US industrial output increased in June—the first monthly advance since March, according to this morning’s update from the Federal Reserve. Production rose 0.3% last month, the most since last November. Is this a sign that the industrial sector is stabilizing after months of decelerating growth? Maybe, although it’s hard to know based on a single monthly report. But let’s throw caution to the wind and say that the outlook for industrial activity looks a touch brighter in the wake of today’s numbers.
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How’s your globally diversified strategy faring these days? Having a tough time? You’re not alone–the headwinds are fierce. For the first time in recent memory, the overwhelming majority of the major asset classes are in the red on a trailing one-year basis. As a result, broadly defined asset allocation strategies are suffering, at least relative to the stellar numbers in recent years.
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● US retail sales surprise with 0.3% loss in June…
● US small business optimism suffers in June too…
● KC Fed President, a voting FOMC member, says “it’s time” to start raising rates…
● But a “growing body of evidence” suggests that US economy is slowing again, Markit economist writes…
● Meanwhile, China’s economic growth tops forecast with 7% gain in Q2.