Industrial Production Crashes Most Since 2009, Weather Blamed

(Before It's News)

For the third month in a row US Industrial Production dropped MoM, crashing 0.6% in November (against expectations of a mere 0.2% drop). This is the 9th month of 2015 with no MoM increase in industrial production and is the biggest MoM drop since March 2012. However, for the first time since Dec 2009, Industrial Production fell YoY (down 1.2%) signalling America is deep in recession. The excuse blame is “unusually warm weather” which sent the utilities index down 4.3% as demand for heating tumbled.

Ironically, capacity utilization fell to 77.0% (against exp of77.4%, down from 77.5%), its lowest since January 2014, when it was blamed on cold winter.

Recession? Transitory collapse in Industrial Production…

So if the wealther was to blame for November, what was to blame for January, February, March, April, May, June, September, and October?

Charts: Bloomberg

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