August industrial production declines; overall decelerating trend consistent with recession in 2023 – by New Deal democrat Finishing today’s data dump, industrial production, the King of Coincident Indicators, declined -0.2% in August, while manufacturing production increased 0.1%. July’s sharp gains in both were revised slightly (-0.1%) downward: While July remains the high water mark for overall production, manufacturing has not made a new high since April. What I see is a decelerating trend which will probably continue to worsen as the Fed raises rates. This adds to the evidence that a recession is likely next year. Tags: August 2022 industrial production
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August industrial production declines; overall decelerating trend consistent with recession in 2023
– by New Deal democrat
Finishing today’s data dump, industrial production, the King of Coincident Indicators, declined -0.2% in August, while manufacturing production increased 0.1%. July’s sharp gains in both were revised slightly (-0.1%) downward:
While July remains the high water mark for overall production, manufacturing has not made a new high since April.
What I see is a decelerating trend which will probably continue to worsen as the Fed raises rates. This adds to the evidence that a recession is likely next year.