U.S. Industrial Production Plunged and Auto Manufacturing Crashed In February

The weather must have been pretty bad to prevent people from buying something on Amazon from the cell phone they were already holding in their hand.

US Industrial Production was expected to rise (+0.3% MoM) for the 9th month of the last 10 in February (the last ‘clean’ pre-COVID print before last March’s collapse, which will spark YoY comp chaos). But, instead, industrial production tumbled 2.2% MoM – the biggest plunge since April 2020. That pushed the YoY drop in production down to 4.25%…

We assume there are weather-related factors driving this weakness – but did analysts not know that Texas suffered from a massive crisis?

  • Utilities rose 7.4% in Feb. after falling 0.6% in Jan.
  • Mining fell 5.4% in Feb. after rising 2.1% in Jan.

The biggest drops however were in motor vehicle production, which crashed in Feb…

Manufacturing was even worse, plunging 3.1% MoM (versus expectations of a 0.2% rise).

Capacity Utilization plunged

And finally, stonks don’t care…

Luckily a few trillion dollars of excess currency creation should bring that back up soon enough as America’s potemkin economy goes from ‘strength’ to ‘strength’.

Source: ZeroHedge

***

U.S. retail sales drop 3% in February before new round of stimulus checks

UBS Upgrades China Growth Forecast to 9% as Economy Gets Off to a Strong Start

Americans ready to pour $40 billion into bitcoin and the stock market as stimulus checks arrive: survey

***

Biden’s ‘still hidn’: President refuses to speak to press again

2 thoughts on “U.S. Industrial Production Plunged and Auto Manufacturing Crashed In February

  1. Pingback: U.S. Industrial Production Plunged and Auto Manufacturing Crashed In February — Easy Money – New Human New Earth Communities

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.