US Industrial Production Bounces After Major Downward Revisions
US Industrial Production rose 0.8% MoM (better than the expected +0.7% MoM), but do not celebrate quite yet as April’s 0.7% MoM print was downwardly revised dramatically to just 0.1% MoM…
Overall industrial production remains 1.5% below pre-COVID-Lockdown levels…
Manufacturing also rebounded notably in May, up 0.9% MoM, after revised to a 0.1% MoM drop in April
Most notably however is the improvement in capacity utilization, which rose to 75.2% (still well below the 76.3% pre-lockdown levels)…
This comes after Empire Fed’s survey showed business activity among manufacturers in New York state expanded at a slower pace in June as growth in new orders and shipments eased.
Tue, 06/15/2021 – 09:24