First Two Month Increase in Industrial Production Since 2007, Highest Two-Month Gain Since 2005
The Federal Reserve reported today that industrial production increased by .80% in August, following a 1% increase in July, the first back-to-back monthly increase in U.S. manufacturing production since the end of 2007 (see shaded area above), and the largest percentage increase for a two-month period since November-December 2005.
According to an Associated Press story:
Industrial companies boosted production more than expected in August, making more cars, clothing and other goods in the early stages of a broad economic recovery. Factories boosted production of cars, machinery, food products, clothing and other goods in a fairly broad-based pickup in August.