Industrial Production
December data show a significant acceleration in domestic industrial production, posting nearly 2% year-over-year growth following a year of mostly slow contraction.
Headline aggregates for Industrial Production rebounded in the December data, following months of steadier decline.
The November data continues to show broad-based normalization and slowing, with a few sectors in particular trouble.
In this month’s report, we saw contraction in the overall aggregate, with a decline of 0.3% month-over-month for a year-over-year decline of 0.3%.
The index of Total Industrial Production fell by 0.3% month over month in the September data, for a 0.6% year over year decline.
In the August data release, domestic industrial production rebounded from an idiosyncratically weak July report.
The index for total industrial production fell by 0.6% month-over-month in July for a year-over-year decline of 0.2%. This follows a series of weak ISM reports, which would seem to suggest an industrial slowdown.
The June G.17 Industrial Production report outperformed expectations.
The industrial production data posted slow growth for the month of May 2024, with the index rising 0.9% over the previous month, which translates to a 0.4% increase in year over year terms.
