Industrial production continues to show excellent growth I call industrial production the King of Coincident Indicators, because it speaks volumes about where the economy is at any particular moment, and empirically is the indicator whose peaks and troughs coincide most definitively with NBER recession dates. In April the story told by industrial production continued to be very positive, as total production rose by 1.1%, and manufacturing production rose by 0.8%. The former made yet another new record high, while the latter has only been exceeded in a 12 month period from spring 2007 through winter 2008: On a YoY basis, total production is up 6.4%, while manufacturing is up 6.0%. Compared with the last 40 years, and particularly the last
Topics:
NewDealdemocrat considers the following as important: Bonddad Blog, Hot Topics, industrial production, NDd, US EConomics
This could be interesting, too:
NewDealdemocrat writes The snooze-a-than in jobless claims continues; what I am looking for in tomorrow’s jobs report
Bill Haskell writes Monthly payments could get thousands of homeless people off the streets
Angry Bear writes A Doctor at Cigna Said Her Bosses Pressured Her to Review Patients’ Cases Too Quickly
Steve Roth writes How Did Under-40s Get So Much Richer During Covid?
Industrial production continues to show excellent growth
I call industrial production the King of Coincident Indicators, because it speaks volumes about where the economy is at any particular moment, and empirically is the indicator whose peaks and troughs coincide most definitively with NBER recession dates.
In April the story told by industrial production continued to be very positive, as total production rose by 1.1%, and manufacturing production rose by 0.8%. The former made yet another new record high, while the latter has only been exceeded in a 12 month period from spring 2007 through winter 2008:
On a YoY basis, total production is up 6.4%, while manufacturing is up 6.0%. Compared with the last 40 years, and particularly the last 20, this is excellent growth:
Taken together, this morning’s economic reports show us a consumer who is still doing OK, and a production sector that also continues to perform well.