March 2017 R-CAT Update

Consistent with headline industrial value-added data, our proprietary indicator of industrial output growth shows a strong acceleration in Q1 2017. Because the R-CAT amplifies more volatile and economically relevant production series, increased crude and iron ore output likely impacted the composite indicator, while slowing passenger vehicle and construction machinery output produced a weaker reading in March relative to January and February.

Posted August 1, 2017
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