US Industrial Production Surges In June

US Industrial production rose significantly more than expected in June (+0.3% MoM vs +0.1% MoM exp) with May’s 0.2% MoM decline revised up to unchanged. This left Industrial production up 0.73% YoY…

Source: Bloomberg

Drilling down, we see Manufacturing output also jump in June (+0.1% vs 0.0% exp), lifting the YoY growth to +0.8%…

Source: Bloomberg

Additionally, Capacity Utilization ticked up very modestly but remains in a downtrend…

Source: Bloomberg

…so much for the post-tariff-front-running hangover?