Industrial Production Up 4.6% in September

Consumer durable goods industrial production in September was up 4.6% compared to September 2009. The 12-month rate of change is showing the fastest rate of growth since April 1995. This is good news for the metalworking industry. However, the industrial production index has been virtually flat the past seven months, and the growth rate month over month has slowed down each of the last three months. This indicates that the 12-month rate of change should reach its peak at the end of 2010 or just into 2011. Then the year over year rate of growth will start to slow. Two industries that are currently contracting year over year but are bucking the trend of slowing month over month growth are machinery and oil, gas, and mining equipment. These two industries are poised to see year over year growth in the next couple of months, which should make them two of the hotter industries. Aerospace industrial production is seeing a faster contraction month over month, which has pushed the 12-month rate of change into contraction for the first time in a year. For more on industrial production go here.