Loading ...Industrial Production Rises Most Since November After Significant Downward Revisions
Submitted by Tyler Durden on 08/14/2015 – 09:27 
Thanks to some considerable negative downward revisions, Industrial Production In July rose 0.6% (double expectations of a 0.3% rise) – the biggest MoM rise since November. However, year-over-year IP growth is flat at 1.3% – hovering at its weakest since the last recession. We previously noted the surge in inventories, which likely spurred this false dawn in IP, however, it is the rise in oil drilling – the first time since September – that raises an eyebrow as entirely unsustainable amid collapsing prices.
In contrast ISM fell.
