Industrial Capacity: Watch The Revisions!
Claimed to have increased:
Industrial production rose 0.2 percent in August after a downwardly revised increase of 0.6 percent in July.
So it's actually down 0.2%, since the previous report was up 1.0%.
See how that happens? They hide the truth in plain sight and make you believe that things have improved when in fact, compared to the previously-reported levels, they did not.
Capacity utilization was 74.7%, which was a clean miss on expectations.
The output of consumer goods declined 0.4 percent in August after having risen 0.8 percent in July. In August, the index for consumer durables fell 3.0 percent, with decreases occurring in all of its major components. The output of automotive products recorded the largest drop, 5.2 percent, and the output of appliances, furniture, and carpeting declined 2.1 percent.
But but but but.... we were also told that inventories were building? Uh, that's not so good, right?
This means that not only is output slowing but sales are slowing faster, otherwise inventories would be drawn down, not built up.
Don't buy the hype - read for the facts.
Most of the time the truth is right under your nose.
