Industrial production mounted a surprisingly strong comeback last month. The 1.1% surge in the Fed’s industrial production index—the biggest monthly gain in nearly two years—surprised many analysts, including yours truly. Surprising or not, it’s clear that October’s dreadful decline in this indicator (a decline that was revised further into the red in today’s update) was a temporary setback rather than a sign that the trend was slipping over the edge. Indeed, the cyclically sensitive manufacturing component in today’s report also registered a strong 1.1% increase in November.
Daily Archives: December 14, 2012
Industrial Production: November 2012 Preview
The November update on industrial production is scheduled for release today (9:15am eastern) and most analysts are expecting a rebound from October’s 0.4% slump. The Capital Spectator’s econometric forecasts are mixed, however, although the average of these predictions leans modestly into positive territory with a slight 0.1% increase. That’s a sign for thinking that industrial production will post a gain in today’s report, but probably not as much as the consensus outlook anticipates.