Good Morning !!!
Dow: 15301 (-0.17%), S&P: 1683 (-0.34%)
Nikkei: 14387 (-0.26%)
IIP for the month of July 2013 beats expectations : up 2.6% vs expectations of negative growth.
Its a major uptick after the negative growth for the last 2 months. Also, IIP numbers for the month of June were revised positively from early reported decline of 2.2% to a decline of 1.8%.
The growth was driven by manufacturing and electricity output which were up 3% and 5.2% respectively. Mining continues to be negative - down 2.3% yoy.
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