Mike “Mish” Shedlock's
Sitka Pacific Capital Management,Llc
The Fed's Industrial Production and Capacity Utilization report shows total industrial production rose 5.4 percent in June after increasing 1.4 percent in May.
June Key Points
- Industrial Production rose 5.4%
- Manufacturing rose 7.2%
- Utilities rose 4.2%
- Capacity Utilization rose from 65.1% to 68.6%
- Motor Vehicles and Parts rose 105.0%
Even with the two-month bounce, IP is 10.9 percent below its pre-pandemic February level.
For the second quarter as a whole, the index fell 42.6 percent at an annual rate, its largest quarterly decrease since the industrial sector retrenched after World War II.
This material is based upon information that Sitka Pacific Capital Management considers reliable and endeavors to keep current, Sitka Pacific Capital Management does not assure that this material is accurate, current or complete, and it should not be relied upon as such.
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