Industrial production grew 0.4% and capacity utilization hit 75.2%, which was better than expected.
Markets are still headed a bit lower, but this clearly adds to the “recovery” data points.
The below chart is from last month, but you can see where it’s going (hint: it continues the “v”).
The full data is here. Note that a big gain was seen in utilities, which were a laggard last time. So that’s a wash.
Background: Industrial production is expected to come in at 0.3%, and capacity utilization is expected to jump to 75% vs. 74.8%.
Capacity utilization is another factor that would create inflationary pressure if it got too high.
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