Against expectations of a modest 0.1% MoM rise, US Industrial Production plunged 0.6% MoM in January, and was downwardly revised historically.
Driven by a 0.9% slump in manufacturing production.
Year-over-year Industrial production growth slowed to +3.8%, the weakest since June 2018…
The decline was driven by an 8.8 percent decline in motor vehicles and parts, with assemblies falling from the best pace in more than two years to the weakest reading since May.
Additionally, capacity utilization, measuring the amount of a plant that is in use, decreased to 78.2 percent from 78.8 percent.
And finally, the financialization of industrials…
When does it mean-revert?