January NAM data shows momentum for manufacturing
Last week's economic indicators provided further evidence that the economy gained positive momentum heading into the new year. Of the nine major reports, one declined, six accelerated and two moderated, but continued grow. (To see all of last week’s reports, see the Latest Economic Reports section below.)
As the chart above shows, last year was a time of recovery for manufacturing in America. After falling 17 percent during the recession, manufacturing production rose for six consecutive quarters through the fourth quarter of 2010 (see red and green bars in chart). To date, the recovery has made up a little more than half (53 percent) of the production lost during the downturn (see black line in chart) and if the pace over the past year continues in 2011, overall manufacturing production should return to its prior peak in another year.
More information is available here:
Monday Economic Report - National Association of Manufacturers - Manufacturing Association