U.S. Economy: Factory Production, Home Starts Exceed Forecasts http://www.bloomberg.com/apps/news?pid=20601087&sid=aTp1GdJiKNZ8&pos=1Feb. 17 (Bloomberg) -- Industrial production in the U.S. rose more than anticipated in January as factories churned out more consumer goods and business equipment, leading the recovery of the world’s biggest economy.
The 0.9 percent increase in production at factories, mines and utilities followed a 0.7 percent gain the prior month, according to the Federal Reserve in Washington. Figures from the Commerce Department today showed housing starts climbed to a 591,000 annual pace, exceeding the median forecast in a Bloomberg News survey.
Stocks advanced on the reports and after Deere & Co., the world’s largest maker of farm machinery, signaled investment in new equipment will probably be sustained in coming months. Growing overseas demand and efforts to replenish inventories in the U.S. will keep spurring production and may generate the jobs needed to boost consumer spending.
“Foreign demand growth continues to be very strong, particularly from Asia, and we’re starting to see capital spending pick up,” said Michael Feroli, an economist at JPMorgan Chase & Co. in New York, who correctly forecast the gain in production. “The recovery looks intact.”
Economists forecast a 0.7 percent gain in production after a previously reported 0.6 percent rise in December, according to the median of 78 projections in a Bloomberg survey. Estimates ranged from gains of 0.3 percent to 1.4 percent....
Remember when Bushco would say one thing, and the reality would be completetly different; Bushco would release rosy, manipulated numbers and then cover up the manipulation? Excellent to see real-world results actually back up Obama's remarks on the stimulus.GOBAMA! GO! :kick: 
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