Industrial Production Plunges In October As Auto-Maker Strikes Hit
.. the 8th straight month of YoY declines for Manufacturing production.
ZeroHedgeTyler Durden

"That is also the 8th straight month of YoY declines for Manufacturing production.

Source: Bloomberg

Output was weighed down by a 10% plunge in motor-vehicle production as the annualized rate of car assemblies dropped to 9.22 million units, the least since February 2022. Excluding parts production, autos and trucks production fell 16.5% MoM - the biggest drop since the COVID lockdowns...

Source: Bloomberg

Starting in September, the United Auto Workers union authorized targeted strikes against the Big Three Detroit automakers, disrupting production at the companies and at their suppliers. The UAW reached tentative agreements with management in late October, laying the groundwork for a rebound in factory output in November.

So theorteically, we should see bounce back next month. Unless demand - as WMT hinted at - has fallen off a cliff."