“Despite this perhaps premature report of industrial production gains, Given a Record 122 Months of Non-Expansion, Manufacturing Still Holds Shy of Its Pre-Recession Peak by 3.7% (-3.7%). [That peak was a decade ago!]
“Manufacturing Gains Likely Reflected Some Inventory Rebuilding Against Weakening Sales, As Disaster-Recovery Bloat Passes from the System.
“Continuing in Nonsensical Monthly Booms and Busts, February Housing Starts Activity Fell by 7.0% (-7.0%), Still Shy by 45.6% (-45.6%) of Recovering Its Pre-Recession Peak.
“First-Quarter 2018 GDP Outlook Continued to Weaken.
“Nonetheless, the FOMC Appears Set for a Rate Hike on Wednesday.”