Slow But (Mostly) Steady Growth For Industrial Production
James Picerno | Jul 17, 2013 02:47AM ET
Industrial production increased by 0.3% in June, update of the Macro-Markets Risk Index. Yes, it could all come apart tomorrow. But using the numbers in hand still paints a macro profile that leans rather convincingly on the side of growth.
Granted, it’s an expansion that’s modest by historical standards, which opens the door for trouble that would otherwise be minimized with a stronger rate of recovery. That said, arguing that the economy’s slipping into cyclical darkness still requires a high dose of bearish speculation--a speculation that's unsupported by the data as currently published.
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