May was an awful month for U.S. Industrial Production.
That number was off .5% after the latest revision. It was a .1% downward revision from the initial report.
June tells a different story. The initial report states that industrial production in the United States jumped .6% for the month. This more than offsets the final decrease in May.
Automobile production jumped 7.8 percent in June from a month earlier when it plunged 8.6 percent after a major fire at a parts supplier. Excluding motor vehicles, manufacturing production advanced 0.3 percent after a 0.4 percent drop in May.
It bears watching to see if the jump in automobile production is the start of a trend or just making up for the loss last month. A trend reversal in that sector could stage higher levels ahead for the stock market.
Full article and graphs found here