FYI: Industrial production growth in September was forecasted to fall to 0.2% from August’s reading of 0.4% MoM. The release for September came in higher than expectations at +0.3%. On a 3m/3m annualized basis, September’s data is still below where it has been for most of the year though. Mining has continued to be a key driver in the aggregate production measure this year. Even with over a 3% decline from the prior period, mining production rose 11.42% on a 3m/3m annualized basis. A big portion of this mining production comes from strength in oil and gas. Manufacturing saw a nice bounce thanks to much stronger automotive production.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/industrial-production-beats-estimates/
