Following May’s disappointing MoM collapse in industrial production growth, economists had hoped for a modest 0.3% rebound and were pleasantly surprised with 0.4% gain in June (and upward revision for May).

  • Factory production rose 0.2% in June after falling 0.4% in May
  • Utilities unchanged in June after rising 0.8% in May
  • Mining rose 1.6% in June after rising 1.9% in May

    • However, year-over-year growth in industrial production slowed from +2.1% to +2.0% YoY – its first slowdown since January.

    Industrial Production remains 1.4% below its Nov 2014 peak, but the Dow Jones “Industrial” Average is up 21% since then…

     

    “New Economy”

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