As is well known now, Appaloosa Management Founder David Tepper is "nervous" about the US economic recovery. Jason Raznick's Tumblr over the weekend highlighted a plethora of charts that offer good reason for long-term bulls to be concerned. Fresh data this morning on Capacity and Production levels lack the luster project a rosier economic future.
A rise in capacity is a benefit to the economy and this miss shows us that we are continuing to tighten as there is more than enough resources required to fill current demand.
USA Capacity Utilization Rate for Apr 78.60% vs 79.20% consensus estimate. The prior reading was 79.20%.
USA Industrial Production (MoM) for -Apr -0.60% vs 0.10% consensus estimate. The prior reading was 0.70%.
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