Industrial Production And Manufacturing Capacity Revised Higher
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Industrial Production revised higher as was Manufacturing Capacity. The Dallas Fed continues to roll out revised economic series some with long-term revisions others ranging from a few months to several years. Even so, the economic picture remains one of expansion in the face of continued “Doubting-Thomases”. The opposite messages of Industrial Production(INDPRO) vs PMI continue with the former very positive and the latter devoid of hope. Capacity and Capacity Utilization are very positive with Utilization showing signs of an upturn in line with what is visible in Durable Goods.
All good for equities and economic expansion. The focus should remain on industrials, retail and related as Real Personal Income and employment rises.
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