Factory strength propels economy into 2012

U.S. factory output in December grew at the fastest pace in a year and homebuilder sentiment improved this month, further evidence the economy entered the new year on firmer footing.

Inflationary pressures also remained in check as wholesale prices slipped last month, which could give the Federal Reserve leeway to respond to an anticipated slowdown in growth in the first half of 2012.

Factories boosted output by 0.9 percent last month, pushing total industrial production 0.4 percent higher, the Federal Reserve said.

"Manufacturing really outperformed. That shows a good ramp-up in terms of industrial production, which is good news," said Eric Green, an economist at TD Securities in New York.

Read Full Article from Reuters

- Posted: 2012-01-18 12:53:16

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