For the US, the strong economic news continues to roll in

For the US, the strong economic news continues to roll in. The most recent data point making the case for economic growth is today's industrial production report. November total industrial production rose 1.1%, well above analysts' expectations and the biggest monthly gain since November of last year. Breaking down the number a bit further, manufacturing rose 0.6%, mining grew by 1.7%, and utilities increased by 3.9% (due mostly to colder than normal weather). Perhaps more importantly, the annual change of industrial production has maintained an over 3% growth rate for three months. That's an excellent sign that we're looking at a trend developing, and not some one-off result. Once again, this better than expected news throws into question whether the Fed will begin tapering this week or not. (VIEW LINK)