May US industrial production data
- Prior was -11.2% (revised to -12.5%) -- record low since 1919
- Excluding cars and parts 0.0% vs -9.8% prior
- Manufacturing output +3.8% vs +4.6% expected
- Capacity utilization 64.8% vs 66.9% exp
- Prior capacity utilization 64.9% (revised to 64.0%)
This is a big contrast to the retail sales report. There's nothing in the details that jumps out as a big skew.
