Wall Street Journal (10/16/14) Nick Timiraos
Economic activity in the U.S. seems to have stabilized, according to several economic reports. Led by a sharp increase in electricity production, industrial production rose 1.0% in September, the largest monthly increase since May 2010 and up from a 0.2% decline in August, according to the U.S. Federal Reserve. Manufacturing output, meanwhile, rose 0.5% in September, following a 0.5% decline in August.
New jobless claims are the lowest since June 2008. Claims as a share of the labor force are the lowest since they began being reported in the 1970s, and the annual pace of job growth is the best since 1999. However, crude oil prices have decreased more than 20% since early June, and it is unclear what effect this will have on the economy.