US industrial production up 0.8% in January

Big industry production rebounded in January, rising by a strong 0.8%, an encouraging sign that the industrial sector’s recovery is on track. For all of 2003, industrial activity rose by 0.2%, a big improvement from the 0.6% decline registered in 2002. Last year marked the first year that industrial production was in positive territory since 2000, when the economy was still enjoying a record economic expansion.