Industrial Drag

This is a syndicated repost courtesy of Alhambra Investments. To view original, click here. Reposted with permission.
Completing a busy day of US economic data, Industrial Production was, like retail sales and inflation data, highly disappointing. Prior months were revised slightly lower, leaving IP year-over-year up just 2% in June 2017 (estimates for May were initially 2.2%). Revisions included, the annual growth rate has been stuck around 2% now for three months in a row, suggesting like those other accounts a pause or even possible end to the mini-improvement cycle.

This post was published at Wall Street Examiner by Jeffrey P. Snider ‘ July 14, 2017.