US Industrial Production growth slowed once again in October, rising just 0.1% MoM (and revised lower historically). Of course, there is always an excuse for any disappointment – this time it was hurricanes.
“Hurricanes lowered the level of industrial production in both September and October, but their effects appear to be less than 0.1 percent per month”.
Expectations were for a 0.2% rise…
The year-over-year growth in industrial production slowed dramatically (from 5.6% to +4.1%)…
Manufacturing output moved up 0.3 percent in October despite a sizable drop in motor vehicle assemblies (down 4.5% MoM); manufacturing production excluding motor vehicles and parts increased 0.5 percent.
Is the Industrial Average about to catch down to the Industrial Output?
