Industrial production in the U.S. surged in April, with the data from factories, mines and utilities rising 1.1 percent, the strongest gain since December 2010 and well above expectations. Over the past 22 months, if you dive into the numbers, you'll notice several positive manufacturing trends, according to a new government report.
US Wind will turn a former steel mill at Sparrows Point, in Baltimore, Maryland, into a manufacturer of wind turbine parts.
General Motors says it will spend $47 million at a factory in Defiance, Ohio, so it can build more parts that go into the company's small four-cylinder engine and its Chevrolet Volt electric car. Additionally, GM will invest $20 million in machinery and equipment at its assembly plant in Kansas City, Kansas, part of a plan to invest $2 billion in 17 U.S. plants.
Manufacturing grew in April at the strongest rate in 10 months, easing concerns the economy had lost momentum at the start of the second quarter.
U.S. auto sales remained an economic bright spot in May, with Chrysler reporting US sales up 30 percent. Meanwhile, a monthly survey of consumer confidence showed American sentiment at its highest level in four-and-a-half years, partly because gasoline prices have dropped.
Gloom is giving way to a glow of optimism in two northern Maine towns as a pair of paper mills, once the lifeblood of industry there, is back, and a closely related new industry knocks on the door.
Manufacturing grew in February at the fastest pace in 20 months. Busier factories and growing optimism among consumers could help the U.S. economy withstand the drag from government spending cuts and tax increases this year.
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