Upward revisions to Industrial Production and Manufacturing Capacity reflect a strong reshoring trend, lifting PMI sentiment after a three-year slump.
Photo by Simon Kadula on Unsplash
Industrial Production(IndPro) has finally pulled the PMI, a sentiment indicator, higher after more than 3yrs of pessimism. Mfg Capacity continues to reflect the reshoring theme by moving higher. Both series have been revised higher vs recent reporting.
These trends are positive for U.S. industrial sector, Real Personal Income, Vehicle Sales, Home buying and Retail Sales.
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