I come from the future.
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US manufacturing weakness adds to slowdown fears
After the weaker-than-expected retail sales figures and clear softness coming through in the housing data, we can now add weaker industrial production to the list of recent disappointments. Output rose 0.2% month-on-month, but this was below expectations of a 0.4% gain while manufacturing output actually dropped 0.1% versus predictions of a 0.3% increase. The chief reason for the fall in manufacturing was a 2.1% drop in machinery production, but there were also declines in food and beverage output, aerospace, wood products and fabricated metal. On the positive side autos were up 0.7% while computers/electronics were ... (full story)