Here’s more good economic news.
U.S. factory output surged in December by the most in any month in 2011, offering the most visible evidence yet that manufacturing is roaring back from the recession’s depths even as declining prices at the wholesale level shows inflation remains in check, according to two reports out Wednesday.
Stronger demand for business equipment, vehicles and energy drove the 0.9% increase in manufacturing output, the biggest monthly increase since December 2010. And a larger portion of U.S. factories were operating, the Federal Reserve said Wednesday in a report on the nation’s industrial production.
Overall output of the nation’s factories, mines and utilities grew 0.4% in December although warm weather dampened demand for energy produced by utilities.
Industrial output is now less than 5% below its pre-recession peak, reached in September 2007. It has increased more than 14% since hitting a recession low in June 2009.
We’re seeing improvement in the job numbers as well, so hopefully we’re now on a positive business cycle.