• HEDGEYE’S MARKET BRIEF
    Our FREE Investing Newsletter
    Get Exclusive Summer Sale Discounts

    By joining our email marketing list you agree to receive marketing emails from Hedgeye. You may unsubscribe at any time by clicking the unsubscribe link in one of the emails. Not available for current subscribers to that product. Use of Hedgeye and any other products available through hedgeye.com are subject to our Terms Of Service and Privacy Policy New users only.

Bearish naysayers say the U.S. economy isn't accelerating. They say economic data fueling investor exuberance, like measures of confidence, is “soft data" and this optimism hasn’t translated into tangible economic growth. That’s not true. As we discussed this morning, Earnings Season is ending with a bang (so far, Nasdaq earnings per share growth is up +17.3% year-over-year). And consumption capacity is strong.

How about this for hard data? Today US Industrial Production accelerated to 2.2% year-over-year, a 28-month high. Remember, that's after year-over-year growth in Industrial Production declined for 20 straight months, from April 2015 to November 2016, before turning the corner. 

Takeaway: The U.S. economy is accelerating.

Bye-Bye Manufacturing Recession... Industrial Production Hits 28-Month High - indust prod 5 16 17