US: Industrial Production rises by 0.2% in May vs. 0.4% expected

[mahatmakanejeeves]

Source: FX Street

US: Industrial Production rises by 0.2% in May vs. 0.4% expected

NEWS | 6/17/2022 1:19:37 PM GMT | By Eren Sengezer

-- Industrial Production in US grew at a softer pace than expected in May.
-- US Dollar Index clings to strong daily gains above 104.50.

Industrial Production in the US expanded by 0.2% on a monthly basis in May, the data published by the US Federal Reserve revealed on Friday. This print followed April's expansion of 1.4% and came in weaker than the market expectation of 0.4%.

"In May, manufacturing output declined 0.1% after three months when growth averaged nearly 1%," The Fed's publication further read. "Capacity utilization edged up to 79.0%, 0.5 percentage point below its long-run (1972–2021) average."

{snip}



Read more: https://www.fxstreet.com/news/us-industrial-production-rises-by-02-in-may-vs-04-expected-202206171319

[RussBLib]

1. so now inventories are way up

while demand is falling.

markets are not that efficient, or smart

[IronLionZion]

2. Inventories vary a lot by sector

so there are excess TVs, fridges, sofas, etc. but we are still short on cars and some foods and things that use certain computer chips.