Having surged back above pre-COVID-lockdown levels in October, analysts expected US Industrial Production to extend its improvement in November and it did but slightly worse than expected (+0.5% MoM vs +0.6% MoM exp) but followed an upward revision from +1.6% to +1.7% MoM in October…
Source: Bloomberg
Manufacturing also rose (+0.7% MoM)…
Capacity Utilization rose to 76.8%, the highest since Nov 2019.
Overall, Industrial Production is back to its strongest level since Aug 2019…
Source: Bloomberg
Maybe it is time to take the foot off the floor after all?
