US industrial production ticked up 0.6% in September, a mostly encouraging sign for the domestic economy. The most optimistic number from the report is the year-over-year change, a robust 3.2% gain. On the other hand, if we break down the monthly number, only 0.1% of the increase is due to gains in manufacturing. In fact, manufacturing still appears to be struggling heading into a crucial fourth quarter. Nevertheless, mining and utilities still showed hefty gains from last month, which shouldn't be discounted. A more complete picture of the economy will emerge later in the week after we get data on retail sales, private employment (ADP), and jobless claims. For a more detailed look at the industrial production report, follow the link below: (VIEW LINK).
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