Surprise! Industrial Production Surges 0.9%, Its Fastest Pace This Year

coca cola bottling factory

[credit provider=”By S1m0nB3rry on Flickr” url=”Flickr”]

The number:Surprise!

Not a total collapse.

Growth of 0.9% was the fastest this year, well surpassing the 0.5% analysts had expected.

Capacity utilization grew from 76.7% last month to 77.5%

Also worth noting: data from the previous month was revised higher.

Huge sigh of relief there that at least this number wasn’t a total disaster.

Pre-market futures are still sharply lower, though up from where they were earlier.

 

Original post: Following that ugly German GDP report, this is the #1 most important report of the day…

Industrial production  is expected to have grown 0.5% in July vs. 0.2% last month.

Capacity utilization is expected to have grown 77% from 76.7%.

If we hit these numbers, that will be reassuring, given how bad some of the recent data has been.

The numbers come out at 9:15 AM.

We’ll have it then.