Details from the November 2015 US industrial and manufacturing production data report 16 December 2015
- Prior -0.2%
- Capacity utilisation 77.0% vs 77.4% exp. Prior 77.5%
- Manufacturing production 0.0% vs +0.1% exp m/m. Prior +0.4%
Not what the doctor ordered. Utilities took another hit as did mining. Manufacturing of durable goods fell 0.2% from +0.6% in Oct. Construction supplies were up last month by 2.3% and down this month by 0.2%
Certainly not the greatest set of numbers we've ever seen. More importantly it raises the prospect of more drawdowns in inventories down the chain. Capacity fell across the board
US capacity utilisation
The dollar is unresponsive to the data. As I mentioned earlier, no one is going to be going out on a limb trading the data this close to the FOMC. It's not a good report though
