Heterodox
– by New Deal democrat There was good news and not so good news in this morning’s two important data releases. I’ll start with the good news. Both total industrial production and its manufacturing component increased a sharp 0.9% in May. Even after downward revisions of -0.4% in March and -0.3% in April, both were still up 0.5% compared with where we thought we were one month ago: The only fly in the ointment is that both are still...
Read More »Good news on production is overshadowed by the yellow caution flag of flagging real retail sales
