Main takeaways:
  • August industrial and manufacturing production gave back part of July's gains.
  • Core IP is still moving sideways. Employment in the manufacturing sector is also moving sideways.
  • Renewed weakness in oil sector could again spillover to other manufacturing sectors.
  • Indeed, ISM survey and Conference Board leading indicator both weakened recently, suggesting there's no upside for industry in the near term.

August industrial and manufacturing production gave back part of July's gains. Core IP is still moving sideways.


Employment in manufacturing and core manufacturing in August gave back all of July's gains. Jobs in the manufacturing sector moved sideways so far this year.





Both the ISM and Markit PMI surveys weakened recently, suggesting there's no upside for IP in the near term.



The Conference Board leading indicators are also catching down with weak industrial activity.


Renewed weakness in oil sector could again spillover to other manufacturing sectors.