The Industrial Sector Losing Steam

Source: Economics Group of Wells Fargo Bank, N.A.Summary A decline in October industrial production and downward revisions to prior data suggest activity is losing steam. Manufacturing production eked out a modest 0.1% gain with pockets of strength throughout several industries. The continued rise of interest rates and growing uncertainty are notable headwinds to the sector. Manufacturing Activity Gradually Losing Momentum Industrial activity has slowed to a crawl. Total industrial production slid 0.1% in October, and revisions to September shaved the prior month’s gain to a modest 0.1% increase. The industrial production index has essentially moved sideways the past four months, and point to a sector that is gradually losing momentum. READ FULL ARTICLE>>