September Industrial Production Rises 0.6%

The Federal Reserve reported this morning that Industrial Production rose 0.6% last month. The details showed that manufacturing was rather tepid but the utility was very strong.

Unlike the stock market, the Industrial Production data series is one that hasn’t been able to surpass its pre-recession peak. The September report was the first to crack 100 since March 2008. The series is based on 100 being the average for 2007. IP still has to grow another 0.8% to top the peak from December 2007.

IP is an interesting data series to follow since it correlates strongly with expansions and recessions. We can’t say what the future will hold, but the economy has been slowly rising this year.

Posted by Eddy Elfenbein on October 28th, 2013 at 10:59 am

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