US Industrial Production rose just 0.1% MoM in June (less than the 0.2% MoM rise expected), after also disappointing in May. That slowed the annual growth in production from 1.6% YoY to +1.1% YoY…

The recent blip higher in Capacity Utilization faded last month (76.1% vs 76.2% exp) with the down-trend seemingly still in tact…

If ‘soft’ survey data is in any way predictive of reality, then we should be seeing a sizable trend higher in industrial production…

…or maybe it’s just another useless sentiment signal.