Tuesday, April 09, 2013
Industrial production bounces back
Posted by David Smith at 11:30 AM
Category: Thoughts and responses

The February induistrial production figures, showing a rise of 1% in overall production and 0.8% in manufacturing, show that this part of the economy is not dead yet, and may not be the drag on Q1 GDP that was feared. Specifically, overall industrial production showed a rise of 0.3% in the latest three months compared with the previous three, while manufacturing was down by a modest 0.2%. The figures are consistent with a small rise in Q1 GDP. More here.

The trade figures were, however, disappointing, showing a widening of the trade deficit in goods and services from 2.5 billion in January to 3.6 billion in February, as exports fell and imports rose. There isn't, however, much of a trend evident in the numbers. Exports continue to disappoint, however. EU exports are down by 5.2% on a year ago but non-EU exports are up by only 0.6%. More here.