US Auto Production Crashes Most In 5 Years As Industrial Production Slows In May

So much for the ‘US economy firing on all cylinders’ narrative – US Manufacturing production slumped 0.7% MoM in May – the biggest drop since July 2016, dragging the headline Industrial Production print down 0.1% MoM.

The headline print dropped 0.1% MoM (against expectations for a 0.2% rise)…

Natural Gas Utilities output plunged 15.7% MoM (biggest drop since March 2012) and motor vehicle manufacturing slumped 6.5% MoM (biggest drop since July 2013).

Of course, none of this matters for stocks – until it does…

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