US Industrial Production Up For Third Month In a Row
In an unsurprising revelation since President Trump took office, America’s industrial production rose 1.0% in April, making it the third consecutive month where industrial production rose.
According to the Federal Reserve, this is the largest monthly gain since February of 2014.
Manufacturing alone posted 1.0% growth in April.
From the Federal Reserve:
As with the overall index, the increase of 1.0 percent for manufacturing output in April was its largest since February 2014. The indexes for durables and for nondurables each advanced 1.0 percent, while the output of other manufacturing (publishing and logging) moved up 0.7 percent. The increase in durables was spearheaded by a large advance for motor vehicles and parts, while the improvement for nondurables was led by gains for food, beverage, and tobacco products, for textile and product mills, for printing and support, and for chemicals.
This may be because of numerous pledges from American and foreign companies alike to bring back manufacturing to the States—everyone from Apple to Honda.
Trump’s words alone were enough to return promises of investment to the country after the unfavorable market that Obama has created over the past 8 years.
So far, this is just one of many small triumphs the economy has had since President Trump has taken office.
Just two months since Trump’s inauguration, the national debt has gone down $100 billion. This starkly contrasts Obama’s raising of the national debt by $400 billion in the same time frame. Although to double the national debt over the course of 8 years you have to get a strong start.
Also, market confidence has increased dramatically since November 8th. The Dow Jones industrial average has broken multiple records and reached all time highs in record times.
This has led the President himself to tweet praises of his own success.
Since November 8th, Election Day, the Stock Market has posted $3.2 trillion in GAINS and consumer confidence is at a 15 year high. Jobs!
— Donald J. Trump (@realDonaldTrump) March 2, 2017
Trump’s economic nationalism seems to have reinvigorated investors and has led to a flooding of investments and confidence back into America.
Maybe after his term in office, America will actually be tired of winning.