US Industrial Production Rises At Strongest Annual Rate Since Jan 2023

US Industrial Production dipped 0.1% MoM in July, but thanks to an upwardly revised 0.4% MoM rise in June, the YoY rise in Industrial Production was +1.43% – the biggest YoY jump since Jan 2023…

Source: Bloomberg

Drilling down, we see Manufacturing was -0.1% MoM in July (slightly weaker than the 0.0% exp), but again thanks to the upward revisions, YoY Manufacturing rose 1.4% – the most since Oct 2022…

Source: Bloomberg

Finally, Capacity Utilization dipped back down in July, back tow its overall trend of the last 3 years

Source: Bloomberg

Given the string annual pace of growth in manufacturing and production, it seems the tariff terror hasn’t struck quite yet…