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US Manufacturing Production Lower YoY For 6th Straight Month, As Automaker Output Plunges | ZeroHedge

After surging in July, US Industrial Production was expected to rise very modestly (+0.1% MoM) in August. Instead, despite signals from ISM surveys that the industry is in contraction, industrial production rose 0.5% MoM. That surprise pulled orders up 0.25% YoY…

Source: Bloomberg

In August, the drop in the output of motor vehicles and parts contributed to declines in the indexes for consumer durables and transit equipment.

Source: Bloomberg

Most of the (more…)

Continue ReadingUS Manufacturing Production Lower YoY For 6th Straight Month, As Automaker Output Plunges | ZeroHedge

China Data Dump Largely Beats Estimates As Slumping Economy Finally Rebounds | ZeroHedge

In retrospect it was clear that China was poised for a rebound when the latest edition of the BofA Fund Manager Survey published earlier this week – which without fail exposes the prevailing wrong groupthink on Wall Street and is one of the best sources of contrarian alpha – showed that China sentiment had hit rock bottom.

And indeed, just days after we reported that China's new credit had rebounded sharply in August thanks to a surge in new mortgage loans, leading to a (more…)

Continue ReadingChina Data Dump Largely Beats Estimates As Slumping Economy Finally Rebounds | ZeroHedge