Industrial production shows gains in September |
| Los Angeles Times - Oct 17, 2011 |
The country's machines continued to whir in September, as industrial production increased 0.2% after remaining unchanged in August, boosted by strong manufacturing figures. Industrial production rose 5.1% in the third quarter.
Manufacturing, once a sector all but left for dead in the U.S. economy, is playing a big role in the country's recovery. Auto companies are making cars again, spurring demand for suppliers and parts manufacturers. Production of motor vehicles and parts rose 0.7% in September.
In the third quarter, the output of business equipment rose 12.6% and the output of transit equipment — including trucks and civilian aircraft — jumped 31.8% in September, according to the report from the Federal Reserve.
As the dollar loses value, more companies are expanding U.S. manufacturing operations at the expense of their overseas ones, said Mitch Free, chief executive of MFG.com, a website that connects businesses and factories. They often produce smaller batches of goods in the U.S. because they don't have to ship them in bulk, he said, which may be leading to the relatively slow growth.
Read Full Article from Los Angeles Times
- Posted: 2011-10-17 14:10:06
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