MARKET DAILY

Market 05/16: What did investment funds buy and sell in the first 3 months of the year?

Industrial production growth slows. Housing starts rise less than expected. Initial jobless claims decrease - continuing claims increase.

April industrial production index rises modestly +0.01% MoM (expected: +0.1%), after March data revised down to +0.1% MoM.

This is the 11th/13th month where data was revised downward.

Signs that industrial production is weaker than expected and will soon reflect in GDP.

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