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Supply Chain Monitor: Industrial Production August 2024
In the August data release, domestic industrial production rebounded from an idiosyncratically weak July report.
In the August data release, domestic industrial production rebounded from an idiosyncratically weak July report.
The Producer Price Index data for August arrived roughly as expected, with continued softening in commodities prices and a rise in input costs for services.
The index for total industrial production fell by 0.6% month-over-month in July for a year-over-year decline of 0.2%. This follows a series of weak ISM reports, which would seem to suggest an industrial slowdown.
Overall, the July PPI report shows an increasingly stable and muted inflation picture.
The June G.17 Industrial Production report outperformed expectations.