For the 13th straight month US Industrial Production contracted year-over-year. The 1.00% annual drop extends the weakness to the longest non-recessionary streak in US history. Aerospace and Home Electronics saw the biggest drops in production with motor vehicles managing a modest increase as manufacturing beat expectations MoM.
Probably nothing...
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Capacity Utilization also missed expectations hovering at cycles lows around 75.4%...
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Time to hike rates?
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