Economic Expansion

While industrial production (one of four indicators used to determine recessions) has fallen six of the past seven months, it’s not flashing recession. Manufacturing, which comprises 78.48% of the index is down just 0.4% Y-o-Y. By contrast, mining and utilities each of which are 10.76% of the index, are down 12.9% and 7.7% Y-o-Y respectively and their declines are largely due to collapsing global energy/commodity prices and unseasonably warm weather.