Professor Mark J. Perry's Blog for Economics and Finance
Industrial production increased in March by 4.0% compared to last year, the largest annual gain since June 2005, almost five years ago, according to today's Federal Reserve report (see chart above). This was the third month in a row of positive output growth, and is consistent with post-recession economic recoveries following the last ten recessions (see graph below).
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
3 Comments:
Die recession, die, die, die!
Low inflation and economic growth--we could be setting up for a secular bull market. This might be the first leg for equity and property markets. Three more legs to go. No double-dip or waa-waa something else. Boom, baby, boom.
Only the federal deficit remains a question. Too much money wasted on prolonged military expeditions.
This is nice and all..........but, this is the best calendar comparison that will probably ever exist.
I'd argue that the growth in 2005 was probably much, much stronger because 2004 wasn't a bad year.
This is hardly surprising.
looking at the second graph, IP has been in a downtrend (lower tops, lower bottoms) since 1982.
nothing in the current recovery changes that.
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