US Manufacturing output stagnated for the 14th month in a row in December with a mere 0.2% rise year-over-year (amid downward revisions), notably less than the expected 0.4% rise. While industrial production rose year-over-year for the first time since August 2015 (thanks to a surge in vehicle production). Natural gas utility output also soared 12.0% MoM providing some impetus to the headline print’s 0.8% MoM gain.
It appears the soft survey data is once again entirely decoupled from the hard reality data…
And just in case that’s too hard to read…
The post US Manufacturing Output Stagnates For 14th Straight Month (Despite Surging Surveys) appeared first on crude-oil.top.