US Industrial Production Shrinks In Feb

The capacity utilization rate measures the amount of available production resources that are being used by businesses. It is currently at 77.5%, which is below the long-run average of 80.7%.

The US Industrial Production fell 0.25 percent YoY in February, its first YoY decline since Feb 2021...

Source: Bloomberg

Also, manufacturing output rose 0.1% MoM (better that the 0.3% drop anticipated, but offset by an upward revision of 1.0% to 1.3% MoM for January). This was it.

1.0% decrease in manufacturing output YoY

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Source: Bloomberg

Overall Capacity Utilization is still subdued...

Source: Bloomberg

It looks like the 'long and variable delays' in monetary policy are beginning to take their toll...

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