Though the U.S. economy faces lots of problems, as we said yesterday, there are some encouraging signs out there too.
Growth was modest but solid in the third quarter. There were 104,000 jobs added to private payrolls in October — a weak increase, but an increase nonetheless. Retail sales have been better than expected.
Today, the Federal Reserve adds this bit of information — Production at the nation's manufacturers has now risen four straight months:
0.5 percent in October. 0.3 percent in September. 0.3 percent in August. 0.8 percent in July.
0.5 percent in October.
0.3 percent in September.
0.3 percent in August.
0.8 percent in July.
Overall, the Fed said, industrial production (which includes output at mines and utilities) rose 0.7 percent last month.
Bloomberg News says the report is "a signal manufacturing is contributing to fourth-quarter growth."