It’s being reported far wide that rising domestic manufacturing output will drive the U.S. economic recovery forward in 2011. Further supporting this view is a staff-written report posted on IndustryWeek.com today stating that, according to the Federal Reserve, the U.S. factory operating rate has reached its highest level in two years.
Per the article, a report released today by the Fed shows manufacturing production increased 0.3% in November. That jump-up followed a decline of 0.2% in October.
What’s more, noted the IW piece, the “factory operating rate moved up to 72.8%, its highest level in more than two years but still well below its long-run (1972 to 2009) average of 79.2%.”
The reporters also noted that gains among durable goods were “particularly broad-based; only the production of motor vehicles and parts decreased substantially.” Excluding motor vehicles and parts, overall factory output advanced 0.7%.
