Reported this morning was a surge in industrial production in July. It doubled the expected number at a 1.4% increase. IP is up 6.6% year-over-year however, there are raw material shortages, and many industries are having trouble filling job openings with qualified workers. We may see a slowdown in the months ahead.
Capacity also rose to 76.1% from 75.4%. Parts production and machinery output were up 1.9% in July. Computers and electronics rose 1.1% and aircraft production rose 1.9%.
Despite supply chain disruptions that are ongoing, manufactures are working hard to keep up with demand.