US Industrial production rose significantly more than expected in June (+0.3% MoM vs +0.1% MoM exp) with May's 0.2% MoM decline revised up to unchanged. This left Industrial production up 0.73% YoY...
Source: Bloomberg
Drilling down, we see Manufacturing output also jump in June (+0.
1% vs 0.0% exp), lifting the YoY growth to +0.8%...
Source: Bloomberg
Additionally, Capacity Utilization ticked up very modestly but remains in a downtrend...
Source: Bloomberg
...so much for the post-tariff-front-running hangover?