Independent Strategy

USUS April Industrial Production

A weak industrial production number and even bleaker manufacturing figures, which leave the y/y rate in negative territory for the first time since December 2016 (and the last China crisis!)  On the manufacturing side non-durables look weak while autos within the durables continue to drag with auto production running around -4.4% y/y now, maintain the negative streak from the start of the year.

In the Media