Industrial Production Increases 13 of Last 14 Mos.

The Federal Reserve reported today that U.S. industrial production increased in August for the sixth straight month, and for the 13th time in the last 14 months (see top chart above, data here).  From the most recent trough of 88.5 in June 2009, output at America's factories, mines and utilities has increased by more than 9%, and over the last 12 months by 6.2% (see bottom chart above).  August marks the 8th consecutive month of year-over-year growth in industrial production (every month this year), following 21 straight months of year-over-year declines going back to April of 2008. 

The ongoing gains in industrial output suggests that the manufacturing sector will continue to be one of the main economic drivers of growth in the U.S.