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US Industrial Production Plunges Most Since March 2009

Courtesy of ZeroHedge View original post here.

After contracting YoY in September for the first time since President Trump was elected, analysts expected a further decline but October's 0.8% collapse in Industrial Production is the worst since March 2009…

Additionally, the year-over-year decline accelerated to -1.13%, the worst since Oct 2016…

Source: Bloomberg

Manufacturing output fell 0.6 percent in October to a level 1.5 percent lower than its year-earlier reading – the weakest since Dec 2015…

Source: Bloomberg

Mining output moved down 0.7 percent in October following a similarly sized decline in September, but the index for mining was still 2.7 percent higher than its year-earlier level. The output of utilities fell 2.6 percent in October; a decrease in the output of electricity more than offset an increase in the index for natural gas utilities.

And finally, The Dow INDUSTRIALS has entirely decoupled from INDUSTRIAL production in America…

Source: Bloomberg

Thank you Fed.

 


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