Production at U.S. Factories Climbs on Demand for Automobiles, Machinery
Factories in the U.S. boosted production in January, capping the biggest back-to-back increases in more than two years, showing manufacturing will remain at the forefront of the expansion.
Output (IPMGCHNG) rose 0.7 percent after a revised 1.5 percent gain in December, the best two-month performance since July and August 2009, when the worlds largest economy was emerging from the recession, according to figures issued by the Federal Reserve today in Washington. Other reports showed homebuilders turned less pessimistic in February and manufacturing in the New York region grew.
Business investment in new equipment and the need to rebuild inventories as sales improve will probably keep factory assembly lines rolling at the start of 2012. Additionally, a more stable residential real-estate market would remove an impediment to the recovery after declines in home construction subtracted from economic growth in each of the past six years.
Factories remain a major supporting element of the economy as we enter 2012, said Richard DeKaser, deputy chief economist at Parthenon Group LLC in Boston. The latest reading from the homebuilders adds to the steady stream of upbeat news on the housing sector.
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http://www.bloomberg.com/news/2012-02-15/production-at-u-s-factories-climbs-on-demand-for-automobiles-machinery.html
madrchsod
(58,162 posts)after three years two local construction machinery factories are once again hiring. several new factories are nearing completion with at least 400 new employees.
Bozita
(26,955 posts)Surya Gayatri
(15,445 posts)is revving up. A virtuous circle...
SG
fasttense
(17,301 posts)We are currently at $69 BILLION trade deficit. http://www.americaneconomicalert.org/ticker_home.asp
Just think of all the jobs that would be created if we balanced our trade deficit.
Johnny2X2X
(18,742 posts)All signs point to a stronger recovery. I think there's been an artificial holding down of the recovery and it's ready to take off and exceed predictions. Things are really starting to gain some momentum and it's great to see.