COTD = Chart of the Day Nice chart from Mark Zandi from Moody’s Analytics. The biggest risk as illustrated in the chart from a macro and micro perspective to the electronics manufacturing industry is an escalation of the trade war.
The Atlanta Fed’s GDPNow dropped its forecast of Q4 growth to just 0.3% from 1.0 percent. The New York Fed’s GDP Nowcast is showing a gain of 0.4%. Today’s two economic releases indicating lackluster retail sales, consumers purchases of big-ticket items disappointed, and a dismal -0.8 percent industrial production print for October were largely responsible for GDP forecast revisions. …
Industrial production fell 0.8 percent in October after declining 0.3 percent in September. Manufacturing production decreased 0.6 percent in October. Much of this decline was due to a drop of 7.1 percent in the output of motor vehicles and parts that resulted from a strike at a major manufacturer of motor vehicles. The decreases for total industrial production, manufacturing, …