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Accelerating Growth Trend for Industrial Production

from ASA Advisor©

Industrial production entered an accelerating growth trend in May after contracting since late 2015. The mining component of industrial production has underperformed the manufacturing and utilities segments, but higher commodity prices, such as for steel and copper, are helping to support recovery. The North America Rotary Rig Count is rising as firms attempt to take advantage of generally increasing prices for crude oil and natural gas. According to the analysts at ITR Economics, expect mining to rise into next year, along with manufacturing and utilities, and lift industrial production during this time. Log in to MY ASA to access ASA’s latest macroeconomic forecast report for the PHCP-PVF industry. more

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