No. 582: November Industrial Production, Producer Price Index (PPI)

(SGS Subscription required) • Strong Monthly Production Was in the Context of Slowing Annual Growth
• Despite Being a Coincident Indicator to GDP, Headline Production Just Topped Pre-Recession High for First Time, Lagging GDP by 11 Quarters
• Corrected for Understated Inflation, Production Has Not Recovered
• Producer Price Index Decline Reflected Lower Energy Prices

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