US Industrial Production: Slowly making its way back to normal – Wells Fargo By MSalordFX IndustrialProduction UnitedStates Banks
hat “a 9.9% surge in utility output amid the big chill in January explains the beat.” They argue “manufacturing output recorded a 0.2% increase after a scant decline in December as manufacturers contend with the ongoing supply chain crisis.”“The recent manufacturing data makes it clear that things continue to slowly make their way back to normal, but with resilient demand production could be even better if supply wasn't a problem.
“It is a long way back to normal, but with some incremental improvement in supply chains means American manufacturing is able to put its factories to work in way that they have been struggling to do for almost two years. Since the demand environment is so much stronger today, the frustration is that production output could be much higher still if factories, mines and utilities had all the material and people they needed to really get back to work.
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