J P M O R G A N North America Economic Research 17 July 2026 US: IP ends the quarter on a soft note Industrial production was soft for a second straight month in June, growing 0.1%m/ m with a flat reading in manufacturing. However, the solid trajectory in earlier months caused manufacturing to still grow 4.7%q/q saar in 2Q. National manufacturing surveys through June, and early regional surveys through July have been strong, though, so we still expect growth to resume in the short term. Much of the growth i ...