23.3 C
New York
Wednesday, July 6, 2022

Buy now

US Manufacturing Output Unexpectedly Shrinks In May

Courtesy of ZeroHedge View original post here.

Despite collapsing macro data (and regional manufacturing surveys slumping), analysts forecast a fifth straight month of increased US industrial production in May (although at a considerably slower pace of just +0.4% MoM). Industrial production did rise in May – but only by 0.2% MoM…

Source: Bloomberg

However, even more notable was the fact that US manufacturing output contracted in May (-0.1% MoM vs +0.3% MoM exp and +0.8% in April)…

Source: Bloomberg

Utilities and Mining rose in May (+1% MoM and +1.3% MoM respectively).

Capacity utilization rose modestly to 79% from 78.9% in April, revised down from 79%.

And finally, we note that the Dow Jones INDUSTRIAL Average has tumbled back to earth and reconnected with US INDUSTRIAL production…

Source: Bloomberg

Putting the 'mean' in mean-reversion for investors. But it is amazing just how long The Fed can hide reality with a few trillion dollars.

Notify of
Inline Feedbacks
View all comments

Stay Connected


Latest Articles

Would love your thoughts, please comment.x