Industrial Production Rises More Than Expected

Remember how the world was supposed to end? Still not happening:

Industrial production in the U.S. increased more than forecast in November, helped by gains in computers, home electronics and appliances, signaling factories will support economic growth into next year.

Output at factories, mines and utilities rose 0.4 percent, the biggest gain since July, after a revised 0.2 percent drop in October, figures from the Federal Reserve showed today in Washington. Economists forecast a 0.3 percent gain, according to the median of 75 projections in a Bloomberg News survey. Manufacturing rose 0.3 percent for a second month.

Assembly lines are speeding up as business investment and exports grow and consumer spending accelerates. Manufacturing will continue to play a role in the economic recovery, which Fed policy makers yesterday said was not strong enough to reduce a jobless rate that’s been hovering near 10 percent.

Capacity utilization rose 75.2%. By historical standards, that’s very low but it’s the highest level since October 2008.

Here’s a look at industrial production. (Kind of a V??)

Posted by on December 15th, 2010 at 11:46 am


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