Data on industry output, home building boost hopes

[NJmaverick]

Source: Associated Press

WASHINGTON – The latest evidence that manufacturers are helping lead the economic recovery emerged Wednesday in a report that industrial production posted its seventh straight increase in January.

The report from the Federal Reserve showed gains in all three major categories: manufacturing, mining and utilities. It was the first such collective show of strength since August 2009. Manufacturing output rose 1 percent, led by a nearly 5 percent gain in auto production.

Manufacturing has been a major contributor to the early stages of the economic rebound. In the fourth quarter, for example, roughly two-thirds of growth came from a burst of manufacturing activity. Factories have been churning out goods for businesses that had let their stockpiles dwindle as a way to save cash.

A separate sign of strength Wednesday came in a Commerce Department report on housing construction. Home building posted a better-than-expected increase last month. Activity reached its highest point in six months


Read more: http://news.yahoo.com/s/ap/20100217/ap_on_bi_go_ec_fi/us_economy

[Name removed]

1. Deleted message

Message removed by moderator. Click here to review the message board rules.

[zonkers]

2. what is lost free? I am confused.

[Lucky Luciano]

3. Appears that the poster is learning English. nt

[zonkers]

5. hi, welcome to DU!

[groundloop]

4. Little by little we're digging ourselves out of the economic hole we inherited

It's not gonna' happen overnight, and not fast enough to suit many, but it appears that there are more and more good indicators. Homebuilding is a big one, that's big.