US Industrial Production Has Been Rather Impressive

Industrial production - a measure of the output of manufacturing, mining, and electric/gas utilities - here in the US hit an all-time high in the month of July. The index grew about 5% (4.973%) in the past year, and American industry is now 24.7% more productive than the recession low in June of 2009.

The growth seems even more robust in comparison to the Eurozone, which is still coming out of the compounding effects of the recession, along with austerity measures designed to reduce debt. There, the industrial recovery has been pretty lackluster, compared both to US and Eurozone growth from 2002-2007, as well as industrial recovery here in the states over the past five years.