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US Manufacturing Slumps Back Into Contraction

Courtesy of ZeroHedge View original post here.

After this morning's good news (regional Fed surveys and retail sales), macro data reality just hit with US Industrial Production tumbling 0.2% MoM (notably worse than the +0.1% MoM) as manufacturing plunged.

Source: Bloomberg

Manufacturing output slumped 0.4% MoM

Source: Bloomberg

It gets worse though as, on a year-over-year basis, Industrial production is barely growing (weakest since Feb 2017) and Manufacturing is back in contraction…

Source: Bloomberg

Mining was the biggest driver of the slowdown, falling 1.8% in July, "as Hurricane Barry caused a sharp but temporary decline in oil extraction in the Gulf of Mexico," according to the report, but Machinery and Autos also declined.


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