Industrial Production growth in The U.S. has now slowed for 10 straight months, rising just 0.4 percent YoY in September - the weakest growth since Dec 2009 - signaling the path to recession is clear. Manufacturing production YoY slowed to just 1.4 percent - the slowest since Feb 2014. For the 8th month of the last 9 IP fell MoM with a 0.2 percent drop in September as a modest revision higher in autos was offset by a plunge in Oil and Gas Drilling to the lowest this century (down 4 percent after rising 1.7 percent last month).
Recession Looms...
(Click Image To Enlrage)
Related: Can China's SPR Rescue Oil Markets?
As it appears Auto Assemblies are starting to roll over (which makes sense in light of the record high inventories)...
Related: Is The Oil And Gas Fire Sale About To Start?
But the biggest driver was a collapse in Oil & Gas Drilling...
Charts: Bloomberg
By Zerohedge
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