Supply Chain Monitor: January Industrial Production
Overall industrial production stayed flat year over year in the January data, and shrank by 0.1% month over month.
Overall industrial production stayed flat year over year in the January data, and shrank by 0.1% month over month.
The soft data for January came in strong following a blockbuster Q4 GDP report and a lackluster January jobs report. Both ISM Services and Manufacturing saw upturns relative to their December reports.
GDP growth this quarter was supported by consumption and government spending, while investment played a more muted role.
Overall production inched up, with headline industrial production rising 0.1% month-over-month for a 1% year-over-year increase.
One way we can think about how present inflation is different from the 1970s experience is by looking at the difference in price changes for capital goods.