Following May's disappointing MoM collapse in industrial production growth, economists had hoped for a modest 0.3% rebound and were pleasantly surprised with 0.4% gain in June (and upward revision for May).
- Factory production rose 0.2% in June after falling 0.4% in May
- Utilities unchanged in June after rising 0.8% in May
- Mining rose 1.6% in June after rising 1.9% in May
However, year-over-year growth in industrial production slowed from +2.1% to +2.0% YoY - its first slowdown since January.
Industrial Production remains 1.4% below its Nov 2014 peak, but the Dow Jones "Industrial" Average is up 21% since then...
"New Economy"