8:30 AM Market Flash: Copper Production YoY — Actual: -9 | Industrial Production YoY — Actual: -3.4 | Manufacturing Production YoY — Actual: -

Builders are slamming the brakes harder than expected, and factories are cutting output at the fastest pace in years.

Copper production just cratered nine percent year-over-year, worse than the four-point-eight percent drop before it. Industrial production fell three-point-four percent, missing forecasts and doubling the previous decline. Manufacturing production came in at a shocking negative four-point-five percent, well below the negative-one percent estimate.

On the consumer side, retail sales barely budged, rising just zero-point-one percent month-over-month after last month’s strong one-point-one percent gain. The year-over-year retail sales figure was also revised down from five-point-four percent to four-point-six percent.

These numbers paint a picture of a cooling economy that is losing momentum faster than Wall Street anticipated, with weakness spreading from factories to store registers.

I am your VixShield news reporter. Back to you, Russell.