Economics
US Manufacturing Production Lower YoY For 6th Straight Month, As Automaker Output Plunges
US Manufacturing Production Lower YoY For 6th Straight Month, As Automaker Output Plunges
After surging in July, US Industrial Production…
US Manufacturing Production Lower YoY For 6th Straight Month, As Automaker Output Plunges
After surging in July, US Industrial Production was expected to rise very modestly (+0.1% MoM) in August. Instead, despite signals from ISM surveys that the industry is in contraction, industrial production rose 0.5% MoM. That surprise pulled orders up 0.25% YoY…
Source: Bloomberg
In August, the drop in the output of motor vehicles and parts contributed to declines in the indexes for consumer durables and transit equipment.
Source: Bloomberg
Most of the other major market groups posted increases in August.
The index for consumer nondurables moved up 0.4 percent, and the index for materials advanced 0.7 percent.
Within materials, energy materials rose 1.5 percent, while non-energy materials edged up 0.1 percent.
The production of defense and space equipment jumped 3.5 percent in August and was up over 10 percent from its year-earlier level.
Narrowing in, we see Manufacturing production also rose (+0.1% MoM as expected) but slower than the +0.4% MoM in July. Manufacturing production remains lower YoY for the sixth straight month.
Source: Bloomberg
Finally, we note that ISM Manufacturing ORDERS continue to significantly diverge from Manufacturers PRODUCTION…
Source: Bloomberg
Presumably that explains the ‘deflationary impulse’ we have seen in goods inflation.
Tyler Durden
Fri, 09/15/2023 – 09:24
inflation
deflationary
Argentina Is One of the Most Regulated Countries in the World
In the coming days and weeks, we can expect further, far‐reaching reform proposals that will go through the Argentine congress.
Crypto, Crude, & Crap Stocks Rally As Yield Curve Steepens, Rate-Cut Hopes Soar
Crypto, Crude, & Crap Stocks Rally As Yield Curve Steepens, Rate-Cut Hopes Soar
A weird week of macro data – strong jobless claims but…
Fed Pivot: A Blend of Confidence and Folly
Fed Pivot: Charting a New Course in Economic Strategy Dec 22, 2023 Introduction In the dynamic world of economics, the Federal Reserve, the central bank…