– US Industrial Production Declines For 10th Straight Month – Longest Non-Recessionary Streak In History:
Following a 0.3% decline in May, Industrial Production rose 0.6% in June (better than the 0.3% rise expected) but year-over-year remains lower (-0.7%) for the 10th straight month. This is the longest non-recessionary streak of industrial production declines in US history. Gains on the month were driven by motor vehicle assembly (which is ironic givenm near-record inventories), but Q2 ended with a decline of 1.0% – the 3rd quarterly decline in a row (also not experienced without a recession).
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