- Prior was -0.5% (revised to -0.8%)
- Capacity utilization +79.3% vs 79.1% expected
- Manufacturing output +0.5% vs 0.0% expected
- Prior manufacturing output -0.3% (revised to -0.5%)
US manufacturing is in a recession but there have been some green shoots pointing towards a revival. I think this 1.0% is premature for calling a turn, especially with the negative revision but I anticipate some better progress in Q4.
