This was a weird, mixed report.
February industrial production unexpectedly came in flat at 0.0% vs. expectations of 0.4%.
BUT, last month’s 0.0% report was revised up to 0.4%, so it’s kind of a wash.
Here’s the table of items.
As you can see, manufacturing grew 0.3%, while utilities and mining (surprisingly?) lagged.
More to come…
ORIGINAL POST: Next big datapoint of the day: February industrial production is expected to rise 0.4% in February after a goose-egg 0.0% in January.
One thing to think about here is that this measure includes utilities, which have been underutilized this winter due to the warmth.
Still, it will be a closely watched number.
Update this post for the number at 9:15 AM ET