Industrial Production +0.8%

More good economic news:

Industrial production rose in December by the largest amount in five months, providing the economy with solid momentum heading into the new year.

Activity at the nation’s factories, mines and utilities increased 0.8 percent last month, the Federal Reserve said Friday. Industrial production was up in every month but one in 2010.

Overall industrial activity has risen 11 percent since hitting its recession low in June 2009. But it is still 6 percent below its peak reached in September 2007.

Factory production, the biggest slice of industrial output, rose 0.4 percent, the sixth straight monthly increase. Makers of computers and electronic products, clothing and leather, chemicals and other products were among the industries seeing gains. But auto production dipped.

“Manufacturing looks like it is doing its job and moving the economy ahead,” said John Silvia, chief economist at Wells Fargo.

More V-like charts:

Posted by on January 14th, 2011 at 11:15 am


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