“Manufacturing output rose 3.8 percent in May, but it was still 16.9 percent below its pre-pandemic level in February. The index for durable manufacturing increased 5.8 percent in May; the most sizable gain among its components was for motor vehicles and parts, where output rose substantially but also remained more than 60 percent below its February level.”
Most sophisticated manufactured goods rely on precision machined parts in order to reliably function. This is great news.
“Total industrial production increased 1.4 percent in May, as many factories resumed at least partial operations following suspensions related to COVID-19. Even so, total industrial production in May was 15.4 percent below its pre-pandemic level in February. Manufacturing output—which fell sharply in March and April—rose 3.8 percent in May; most major industries posted increases, with the largest gain registered by motor vehicles and parts.”
In Real Estate, they say the most important thing is “Location, Location, Location.”
In Economics, I’d like to tell you that it is “Direction, Direction, Direction.”
And while 1.4% increase in industrial production may not seem like a lot (Better than most CD’s are paying, come to think of it) the direction is, as they say…