Actually, That "Weak" Industrial Production Number Contains A Real Gem For The Bulls

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If you have a minute to spare, we’d like you to take one last glance at the “weak” industrial production numbers we reported on a few minutes ago.

Yes, the headline growth of 0% was weaker than expected, but manufacturing grew 0.5% in October, vs. an upwardly revised 0.1% gain in September, and 0% in August.

The real weakness, was a huge 3.4% decline in utilities, which the Fed attributes to warm weather (yes, yes, the warm weather excuse, but they’re not a retailer, and really what else explains that kind of decline in utilities?)

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