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Industrial Production Expands at 4%

Just a quick update on some macro data.  This is the latest on industrial production:

Industrial production slowed marginally to a rate of 4% year over year in October and fell marginally on a month over month basis from its previous record high set in September.  Interestingly, the growth in industrial production in the last 5 years has averaged 3.5%.  That’s significantly better than the 2002-2007 period when industrial production averaged just 1.8% and not far from the 91-99 expansion when industrial production averaged 4.2% growth.