April 2018 US industrial production 16 May 2018

  • Prior 0.5%. Revised to 0.7%
  • Capacity utilisation 78.0% vs 78.4% exp. Prior 78.0%. Revised to 77.6%
  • Manufacturing output 0.5% vs 0.5% exp m/m. Prior 0.1%. Revised to 0.0%

Better than expected but with a higher revision. Capacity a bit of a worry due to the lower revision.

For manufacturing, auto parts let the side down but durables are holding up well, which is good for showing consumer demand.

Ryan Littlestone

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