"The greatest trick the Panglossian Punditry ever attempted was convincing the world the Industrial #Recession didn’t exist… and just like that the longest non-recessionary streak of negative growth was gone," writes Hedgeye CEO Keith McCullough earlier today.
About today's Industrial Production number, McCullough writes :
"US Industrial Production (released this morning) breaks a 15-month streak of negative Y/Y growth. And not to be outdone, Capacity Utilization is higher Y/Y for 1st time in 23-months. One month does not a positive @Hedgeye TREND make but 15-months of negative comps and improving growth make for a nice 2nd derivative yellow brick road."
One of Hedgeye Industrials analyst Jay Van Sciver's Best Ideas in the Industrials complex remains Textron (TXT).
