US Industrial Production Jumps Most Since July

US Industrial Production Jumps Most Since July

After slowing its rebound in November, US Industrial Production was expected to re-accelerate in December and it did, dramatically. Despite job losses, tumbling retail sales, and soft survery data, industrial production jumped 1.6% MoM in December (massively beating the +0.5% expectation). This is also the biggest MoM jump since July…

Source: Bloomberg

On a year-over-year basis, industrial production remains down 3.6%.

US Manufacturing rose 0.9% MoM, almost double the 0.5% expected, but also remains down 2.8% YoY…

Source: Bloomberg

This is the 8th straight month of rebounds for US manufacturing.

While the “Industrial” Average is soaring back near record highs, dramatically above pre-COVID levels, “Industrial” Production continues to languish below those pre-pandemic highs…

Source: Bloomberg

The stock market is not the economy… it’s just a fogged mirror of liquidity, nothing more (and no, the new stock market is not a discounting mechanism of anything but future liquidity expectations).

Tyler Durden
Fri, 01/15/2021 – 09:19

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