Industrial Production Tumbles Most In 10 Months

Despite a surge in oil and gas drilling (up 8.5% MoM), US Industrial Production tumbled 0.3% MoM - the biggest MoM drop since March 2016. Worse still, after a hope-filled bounce to a positive year-over-year in December, Industrial Production slumped to unchanged from a year ago in January.

After December's exuberant bounce, January Industrial Production has fallen back to reality...


This occurred despite a huge spike in oil and gas drilling...


And year-over-year, IP is now unchanged... (so only one positive print in the last 17 months - this is the worst non-recessionary streak in US history)

Once again "hard" data post Trump disappoints the exuberance in 'soft' data.


No comments yet! Be the first to add yours.