Industrial Production Reaches Highest Level Since June 2008

 

The consumer durable goods industrial production index was 91.4 in June 2011. This is the index’s highest level since June 2008. June’s level is 5.7 percent higher than June 2010, which means the industrial production has been growing for 18 consecutive months.

 

While industrial production is still growing, it is doing so more slowly. The one-month rate of change was slower in April, May and June than it was in February and March. Also, the quarterly rate of change has slowed each of the last three months, and the annual rate of change has slowed each month since December 2010.

 

While general consumer durable goods production is seeing slower growth, this is not true for all end markets that affect the metalworking industry. Several industries are still growing faster each month: turned products; mining; gas and oilfield machinery; power transmission equipment; aerospace; and medical.