Industrial production surges in February by most in years

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US Industrial Production spiked 1.1% MoM in February (well above all analyst expectations). This is the 2nd biggest MoM spike in production in 8 years.

Despite declining global economic data and weakness across US-specific data, Industrial production jumped 1.1% in February - the second biggest monthly surge since May 2010...

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“We’re seeing greater support for equipment spending,” and various leading indicators “are all pointing toward more growth going into the rest of the year,” said Gregory Daco, chief U.S. economist at Oxford Economics. “I actually don’t think we’ve peaked.”

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