Sixth Straight Monthly Increase in Industrial Production, Growing at 9% Annual Rate
WASHINGTON (MarketWatch) -- The output of the nation's factories, mines and utilities rose a seasonally adjusted 0.6% in December, the sixth increase in a row following the worst downturn since the end of World War II, the Federal Reserve reported today.
MP: The monthly increase in December industrial production marks the first time since late 1997 of six consecutive monthly increases, and the cumulative gain of 4.5% through December is the largest six-month gain since early 1998 (see top chart above). Although the year-to-year growth rate through December is negative (-2.0%), it's the least negative growth rate since the summer of 2008 and the trend in this series, along with the six straight monthly increases, is another V-sign of economic recovery (see bottom chart above).
2 Comments:
"Industrial production increased 0.6 percent in December. The gain primarily resulted from an increase of 5.9 percent in electric and gas utilities due to unseasonably cold weather. Manufacturing production edged down 0.1 percent . . . Industrial production is still 10.7% below the level of December 2007." Calculated Risk
Die, recession, die, die, die.
I love the V. Bring on the V.
Before it started, I hated the V. But now that we have hit bottom, lets all do the V.
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