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IronLionZion

(45,256 posts)
Mon Jun 16, 2014, 01:39 PM Jun 2014

Factories Boost U.S. Output as Builders Gain Confidence: Economy

http://www.businessweek.com/news/2014-06-16/industrial-production-in-u-dot-s-dot-climbed-more-than-forecast-in-may

American manufacturers are churning out more goods and homebuilders are regaining confidence as evidence mounts that the world’s largest economy is making a comeback after a slow start to 2014.

Output at factories, mines and utilities rose 0.6 percent in May, reflecting gains at makers of automobiles, business equipment and construction supplies, according to Federal Reserve data today in Washington. Builder sentiment this month jumped by the most in almost a year, another report showed.

Improving consumer and business spending means assembly lines will probably remain busy in the second half of the year, giving growth a boost after the expansion sputtered in the first quarter. The reports, which came as the International Monetary Fund cut its 2014 forecast for the U.S., give Fed policy makers meeting this week reason to continue trimming stimulus at a measured pace to ensure the rebound is sustained.

“We’re back on track,” said Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. in New York, and the second-best production forecaster over the last two years, according to data compiled by Bloomberg. “Everything is growing at a pretty good clip.”



Looking good, I hope there will be lots more jobs to go with this.


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