FAST FIVE: US Industrial Production Disappoints In April As Carmakers Crumbled
US Industrial Production Disappoints In April As Carmakers Crumbled After a surprisingly large upward revision for March (from +1.5% MoM to +2.4% MoM), April's Industrial Production rose 0.7% MoM (less than the +0.9% expected).
Source: Bloomberg Of course, thanks to the collapse comps, industrial production surged over 16% YoY.
Source: Bloomberg Capacity utilization rose to 74.9% from 74.4% in March, which was unrevised from initial release.
Notably Motor vehicle manufacturing plunged again in April )amid shutdowns over chip shortages).
It would appear the renaissance of the manufacturing economy is slowing fast absent new stimmies.