XLI - Industrial Production March 2024: Too Strong For Fed Cuts

2024-04-16 11:00:00 ET

Summary

• The U.S. Federal Reserve published the Industrial Production report for March 2024.
• Industrial Production expanded by +0.39%, an above-average rate of growth, that was in line with the median forecast of +0.40%.
• Industrial production in the past 3 months has accelerated relative to the 6-month rate of growth.
• The acceleration of industrial production growth in yet another sign that shows that the Fed does not need to rush to cut interest rates.
• The potential for an oil price shock is the biggest threat to the U.S. economy. We think one is coming in 2024.

The Industrial Production and Capacity Utilization Report , corresponding to activity during the month of March 2024, was published by the US Federal Reserve on April 16, 2024, at 9:15 AM. This report is widely considered to provide some of the best indicators of the production of goods in the U.S. economy, that are available at a monthly frequency....

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