Driven by a 0.7 percent jump in manufacturing output, the Federal Reserve reported today that overall industrial production rose 0.4 percent in December. NAM says that this may be indicative of the recent 3-month slowdown in industrial activity coming to an end.
The strongest gain in 6 months, the 0.7 percent surge in manufacturing output was driven by solid increases in computers and electronic products, machinery, aircraft, and motor vehicles as well as a number of nondurable products such as apparel and petroleum and coal.
Throughout 2006, manufacturing production increased by a healthy 3.7 percent. And with overall GDP growth expected to come in at 3.1 percent in 2006, manufacturing has, for the first time since the late 1990s, outpaced the overall economy for three consecutive years.
to Daily News