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Global industrial production continues to expand




An update to an oft-featured chart. In the 12 months ended Feb. '10, Japanese industrial production rose 31%! U.S. industrial production is up 6% from its June '09 low, and has risen at a 6% annual rate in the past six months. Eurozone industrial production is up at a 11.5% annual rate in the six months ended Feb. '10. While the U.S. seems like the laggard based on these numbers, it is also the case that production never fell as much here as it did there. Taken together, these numbers all point to a substantial recovery from recession lows. All signs point to a continued global recovery, and that means more good news in the months to come.

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