Industrial production increased by a half-percent in July, the Federal Reserve announced today. While housing and other indicators with relevance to truck freight have shown twitches of life in recent months, this marked the first monthly increase in this measurement since December 2007 (not counting a hurricane-related rebound in October 2008).
The manufacturing component of the index rose 1.0 percent in July. This was mostly due to a tax-revived auto industry, which saw vehicle assemblies jump from 4.1 million units in June to 5.9 million in July (annualized rates).
Here’s the entire report, which covers other segments, as well.
— Max Heine