Vice President and Chief Economist Dan Meckstroth reviews the most recent manufacturing data and discusses the recent rebound in U.S. manufacturing output growth. Fortunately, 18 out of the 25 industry groups showed an increase in output in December, indicating broad gains throughout manufacturing. The manufacturing industrial production index increased by 0.8 percent in December after having risen 1.3 percent in November, when production rebounded in the industries that had been negatively affected by Hurricane Sandy, reversing the 0.9 percent decline in October. At this point, manufacturing production is about 73 percent recovered from the 2008-2009 recession. Dan also shares MAPI’s manufacturing growth forecast for both 2013 and 2014 and concludes with a discussion of recent manufacturing employment growth.
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