- Industrial production -0.2% versus +0.1% estimate. Last month -0.1%
- capacity utilization 79.7% versus 79.8% estimate. Last month 79.9%
- manufacturing output for November -0.6% versus -0.1% estimate. Prior month was revised higher to +0.3% from +0.1%.
- Mining output -0.7% versus -0.7% last month. Utilities output was 3.6% versus -1.3% last month
- motor vehicle assembly rate fell to 10.25 million units per year from 10.84 million units in October
- industrial output exit cars/parts +0.1% versus -0.1% last month
Looking at the chart above, both the industrial production and capacity utilization have been straight lining years. The production did take a dip during the Covid lockdown, but has returned back to pre-Covid levels. The globalization of manufacturing slowed the assent. It will be interesting to see if de-globalization lead to a move back to the upside over time (thinking of manufacturing and other businesses moving on shore in the US).
/inflation
