US Industrial Production Annual Growth Slowest Since March 2021
BY: TYLER DURDEN
After a slew of weak data, US Industrial Production did not do anything to help matters as it fell 0.2% MoM (worse than the 0.0% expected) - its weakest MoM drop since Sept 2021.
On a YoY basis, the +2.5% growth is the weakest since March 2021.
Manufacturing also tumbled in November, dropping 0.6% MoM - also the worst since Sept 2021...
Overall capacity utilization dropped further in November to 79.66% - the lowest since Feb 2022...
Is this what Powell wants to see? Is monetary policy's long and variable lag finally catching up to the real economy?