Free Trial

Mfg Production Stronger Than Expected But Trend Still Weak

US DATA
  • Industrial production was marginally weaker than expected, at 0.0% M/M (cons 0.2) after on balance negative downward revisions to prior months.
  • Part of the miss might have been from January’s historically large decline in utilities on unusually mild weather not being reversed, with 0.5% after -10.1% M/M.
  • The manufacturing details meanwhile were stronger than expected, rising 0.1% M/M (cons -0.3) after an upward revised 1.3% (initial 1.0).
  • Prior weakness in manufacturing production does however leaves heavy declines in trend terms at -6.5% annualized on a 3mth/3mth basis (now similar for total IP), chiming well with continued soft data weakness.


To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.