The Capacity Utilization Rate is highest in four years.
You will not have a recession without a declining capacity utilization rate, no matter what the yield curve is doing, or how Europe or China is doing.
Related data points released today:
- U.S. Retail Sales m/m: 1.6% (0.9% exp)
- German Manufacturing PMI (Apr): 44.5 (45.2 exp) [< 50 signals contraction]
- Eurozone Manufacturing PMI (Apr): 47.8 (48 exp)
- Eurozone Services PMI (Apr): 52.5 (53.1 exp)
- Eurozone Composite PMI (Apr): 51.3 (51.8 exp)