U.S. industrial production is rising, gaining 0.8% in November after a flat October. Capactity utilization also increased, which will help keep inflation low. Production of industrial materials rose 1.3%, the highest increase in three months.
“We’ll continue to see growth in manufacturing output, given strong exports and that consumers are spending,” said Michael Feroli, an economist at JPMorgan Chase & Co. in New York, who forecast a production gain of 0.9 percent. “You’re seeing a decent amount of breadth in terms of the increases.”
The U.S. manufacturing base is cautiously optimistic about continued growth in 2010.
Spread the good news! To paraphrase Mark Twain; “The reports of manufacturing death have been greatly exaggerated.”