Friday, December 14, 2007
Financial web sites tell us the seemingly bullish news that industrial production rose in November compared to October. That it did, but only compared to the revised October figure. If you look at the actual report, you can see that reported industrial production in November was actually 0.1% lower than the initially reported October figure (113.9 vs 114.0 in initially reported October number). Industrial production is also 0.2% lower than 4 months earlier.