Shedlock: The Myth of the V-Shaped Recovery in One Chart
by Mike Shedlock Retail sales surged in May but manufacturing is another story. The Fed’s Industrial Production and Capacity Utilization puts a big negative spotlight on the emerging V-shaped recovery thesis. Industrial Production Highlights Industrial production increased a weaker than expected 1.4% in May. The Econoday consensus was 2.9%. A negative revision took April from -11.2% to -12.5% … Read more