US Industrial Production Grew At 5.2% In Q3

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US Industrial Production Grew At 5.2% In Q3

By Mark Perry on October 16, 2009 | More Posts By Mark Perry | Author's Website

NEW YORK (Reuters) - U.S. industrial production rose in September for a third consecutive month, Federal Reserve data showed on Friday, suggesting the economy closed out the third quarter with surprisingly strong growth. For the third quarter as a whole, output advanced at a 5.2% annual rate, the first quarterly gain since the first quarter of 2008 and the largest increase since the fourth quarter of 2005.

The figures will likely reinforce the view that the longest recession since the Great Depression ended in the third quarter. Economists in a Reuters poll released on Thursday pegged the third-quarter growth rate at 3.1%.

MP: The chart above shows that industrial production grew for a third straight month in September for the first time in almost four years.

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