The Industrial Slowdown Continues Into September
One of the reports published to members of EPB Macro Research each week is the [Daily Data Flash] report, where we take a deep dive into the most important economic data of the week.
We cover the current trends and what to expect over the coming months based on our leading indicators.
Below is an excerpt from today's report. To read the full report, click this link for a no-risk 14-day FREE TRIAL.
[Daily Data Flash] Industrial Production
Industrial activity in the United States continued on a downward path through the end of August with industrial production growth falling to a 31-month low.
US Industrial Production Growth:
Source: Bloomberg, EPB Macro Research
Leading indicators of industrial activity such as new orders or new commitments continue to decelerate which suggests the weakness in the manufacturing sector is likely to continue through year-end.
Looking at the three-panel graph below shows the growth rate of total manufacturing new orders less transportation, durable goods new orders less transportation, and nondefense capital goods new orders less aircraft.
All three data sets represent new orders and tend to lead broader industrial production by several months.
Industrial New Orders:
Source: Bloomberg, EPB Macro Research
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