U.S Industrial Production, Consumer Spending Show Continued Growth
U.S. industrial production and the consumer sector continue to show strong performances, reports ITR Economics in the July edition of its ITR Advisor.
Industrial production is benefiting from a resurgent mining sector, which has lagged the manufacturing and utilities components but is now buoyed by higher commodity prices. ITR expects mining, manufacturing and utilities to all rise over the next year, lifting the country’s industrial production levels.
The consumer sector has performed well in recent quarters in ITR’s assessment. The rate of growth for retail sales has surged recently and ITR expects that trend to continue. Consumer goods sales are supported by an increase in disposable personal income, and industries closely connected to the consumer will likely benefit from this trend.
In its analysis of various industries, ITR reports that U.S. wholesale trade for the year ending in May was up 3.9 percent, and average manufacturing production for the same 12-month period increased 0.5 percent.
ITR offers economic information, insight, analysis and proactive strategies, and in collaboration with PPAI, the company produces data for the promotional products industry to help members improve their businesses. Its quarterly Market Outlook Reports for the promotional products industry contain industry indicators, market analysis, advertising industry forecasts and a promotional products industry forecast.