US Industrial Production, Manufacturing Jumps In June, But…

US industrial production rose a better than expected 0.6% MoM in June (double the 0.3% jump expected but slower than the 0.9% surge in May). This pulled industrial production up 1.6% YoY – the best since Oct 2022…

Source: Bloomberg

Manufacturing production also surge in June (jumping 0.4% MoM vs +0.1% exp) and May was revised up from 0.9% to +1.0% MoM). That MoM jump pulled the YoY change up to +1.1%…

Source: Bloomberg

Capacity Utilization also increased significantly to 78.8% in June…

Source: Bloomberg

It’s not all sunshine and rainbows though as computer and peripheral equipment production puked in June (most since COVID lockdowns) as Utes saved the month…

Source: Bloomberg

Is this good news gonna help the bad news-sponsored rate-cut euphoria?