US industrial output reverses July fall; “no evidence of recession”

Summary: US industrial output up 0.8% in August, greater than expected; zero growth over past 12 months; ANZ: suggests solid growth in Q3, no evidence of a recession; US Treasury yields up; rate-cut expectations soften slightly; capacity utilisation rate rises to 78.0%. The Federal Reserve’s industrial production (IP) index measures real output from manufacturing, mining, electricity and gas company facilities located in the United States. These sectors are thought to...

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