The Federal Reserve said this morning that its gauge of industrial production -- output from the nation's factories, mines, and utilities -- fell by 0.6% last month after a flat (0.0%) reading in August. But, on a year-over-year basis, output has been increasing since October of 2003. Despite a weakening trend between May of 2004 and September of 2005, expansions have been gaining in strength over the last year.Tuesday, October 17, 2006
Economic Observation
The Federal Reserve said this morning that its gauge of industrial production -- output from the nation's factories, mines, and utilities -- fell by 0.6% last month after a flat (0.0%) reading in August. But, on a year-over-year basis, output has been increasing since October of 2003. Despite a weakening trend between May of 2004 and September of 2005, expansions have been gaining in strength over the last year.
