“Recovery” is a funny word that seems to mean very different things to different people…

Industrial Production rose just 0.2% in November (below the 0.3% rise expected) but October was revised higher from 0.9% to 1.2% amid storm reconstruction.

And so while The Dow Jones Industrial Average has ‘recovered’ its way to new record highs way beyond Dec 2014 levels, actual Industrial Production continues to lag…