After six, that’s right count them, sixstraight months of improved industrialproduction activity the index fell 0.1% forAugust and the July numbers were reviseddownward in half, from 0.4%+ to 0.2%+according to the Federal Reserve. You knowwe often mention in this Report that we justdon’t see the recovery and question some ofthe numbers released out of D.C. howeverwhen you see a 6 month run you begin tobelieve. It seems that the ‘see it, feel it’method of growth measurement is gainingmerit and may in fact tell the true tale. Most ofthe decline in the aforementioned number isattributed to autos and auto parts which,when you review the numbers is not all thatsurprising.
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