U.S. industrial production growth continues to pick up steam, reports ITR Economics in the August edition of its ITR Advisor.
Compared to the year-ago level, U.S. industrial production is up 0.2 percent—utilities production and total manufacturing production are up 0.9 percent and 0.6 percent, respectively, compared to last year, while U.S. mining production, although on an upward trend, is 1.5 percent behind where it was last year. ITR Economics expects all three sectors to show continued growth due to rising consumer and industrial goods demand. U.S. exports are also above the year-ago level and U.S. businesses shipping products abroad benefit from a U.S. dollar that has weakened in the past few months.
The pace of growth for most U.S. manufacturing segments is expected to continue to pick up steam for most through mid-2018. Non-defense capital goods new orders are also on the upswing, and are expected to continue to show growth into 2019.
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