U.S. Economy: Data Point to Growth, Without Inflation

Reports on industrial production and consumer prices today showed the U.S. economy is emerging from the economic slump without spurring inflation.

Output at factories, mines and utilities climbed 0.8 percent last month, exceeding the median estimate of economists surveyed by Bloomberg News, data from the Federal Reserve in Washington showed. The Labor Department said the cost of living climbed 0.4 percent, and was down 1.5 percent from August 2008.

Stocks rose, extending a global advance, after the reports underscored Fed Chairman Ben S. Bernanke’s view that the worst recession since the 1930s was probably over. A lack of price pressures means policy makers, meeting next week, can continue to leave the benchmark interest rate near record-low levels to give the economy time to gain speed.

Read Full Article from Bloomberg

- Posted: 2009-09-16 12:31:37

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