July 17, 2018

The Industrial Production Index rose 0.6% in June. For the second quarter, total industrial production advanced at an annual rate of 6%, marking its third consecutive quarterly increase. At 107.2% of its 2012 average, the index has increased 3.8% since June 2017. Looking forward, we expect that the industrial production expansion rate will peak during the third quarter of 2018 at around 5%, and the expansion rate will then to an expansion rate in the 3% range, at which point the odds of one quarter outperforming the previous quarter will be slightly less than the flip of a coin.

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