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Trump Effect? US Industrial Production Surges Most In 4 Years Since Election
In the two months since President Trump won the US election, US industrial production has jumped by the most since Nov 2021 (up 1.5%) to its highest since Sept 2022 (boosted by utilities in a month marked by colder temperatures), up 0.5% MoM in January (better than the 0.3% increase expected). That, along with an upward revision for December, pushed US Industrial Production up 2.00% YoY (its strongest pace of growth since Oct 2022)…
Source: Bloomberg
BUT – and it’s a big but – US Manufacturing output, which accounts for three-fourths of total industrial production, contracted in January (-0.1% MoM vs +0.1% MoM exp)…
Source: Bloomberg
And another but… Capacity Utilization accelerated again in January (2nd straight month), rejecting the recessionary red flags…
Source: Bloomberg
The headline growth was driven largely by output at utilities jumping 7.2%, the most in three years…
So don’t count on the surge in IP holding up unless climate change is a really real thing!?
Tyler Durden
Fri, 02/14/2025 – 09:27
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