Vital Signs for the Week of May 17

On tap: May manufacturing activity indexes from the New York and Philadelphia Federal Reserve Banks, housing starts, leading indicators index, and more

After a disappointing 0.1% fall in March, the Federal Reserve reported on May 14 that industrial production rose 0.8% in April. The latest factory output figures are just one in a recent string of data that shows American manufacturers really turning around. So far this year, industrial production is growing at an annualized rate of 6.3%. If that pace holds up, it would be the best year since 1997.

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