US Manufacturing contracted 0.4% MoM in September (dramatically worse than the 0.1% decline expected). This dragged Manufacturing output down 0.5% YoY…
Source: Bloomberg
This helped drag US Industrial Production down 0.3% MoM and -0.6% YoY (the weakest since April) as August’s print was revised down…
Source: Bloomberg
A strike by aircraft machinists held down industrial production by an estimated 0.3%, while the effects of hurricanes Helene and Francine subtracted a similar amount, the Fed said.
Production of aerospace equipment tumbled 8.3% during the month.
And this is all happening as Capacity Utilization tumbles to 77.5%
Source: Bloomberg
Mining and energy extraction slid 0.6%, while output at utilities increased for the first time in three months.
Does that looking a ‘no landing’ economy? Or is it all ‘transitory’ too?
Tyler Durden
Thu, 10/17/2024 – 09:28
