US Industrial Production fell 0.2% MoM in May - the second decline in the last three months. That print was weaker than expected from an upwardly revised April print and dragged the YoY change in production down to +0.6% YoY...

On the Manufacturing side, output rose 0.1% MoM, from a downwardly revised 0.5% decline in April

Interestingly, while auto retail sales dropped (as we detailed earlier), US auto production rose in May while Energy &amp; Computer production fell...

Capacity Utilization slipped lower in May to 77.4%, falling for the third straight month...

Is today the turning point (down) in 'hard' data (as soft data has turned up)?

... the second decline in the last three months. 
{ai:summary}<p>US Industrial Production decreased by 0.2% month-over-month in May, marking the second decline in three months and lowering the year-over-year change to +0.6%. Manufacturing output saw a slight increase of 0.1% month-over-month, despite a drop in auto retail sales.</p><p>Capacity Utilization fell to 77.4%, continuing a three-month downward trend. Analysts are questioning whether this signals a turning point in economic data as soft indicators improve. Attention now turns to Federal Reserve Chair Jay Powell's response. #economy</p>

US Industrial Production Drops In May As Capacity Utilization Sinks

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