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On rate pressure & steep yields to come

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David Hay
Jul 18, 2025
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America has been rediscovering the importance of having a thriving industrial base. It needs to. From 1954 to 2007, industrial production rose at a compound annual growth rate of 3.3%. Since then, it has virtually flatlined.

US Industrial Production Index, 1954 to 2025

Sourced via Stockman

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