The latest readings on the health of the U.S. manufacturing sector came out this morning and they don’t paint a pretty picture. Industrial production has fallen in 8 of the last 9 months, and the year-to-year rate of change is now flirting with contraction. Manufacturing accounts for a much smaller share of the U.S. economy than it did in decades past, but it isn’t yet small enough to ignore. Stay tuned here.
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