Industrial production and capacity utilization came in below estimates this morning–more evidence that the economy continues to weaken.
Industrial production contracted 0.2%, missing the 0.1% expansion estimate. This is down from 0% a year ago, but higher than the 0.7% contraction in the month prior.
Capacity utilization, meanwhile, slackened to 79.4%, below the 79.7% estimate, down from 79.6% a month ago and 80.9% a year ago.
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