1. At an index level of 94.2, industrial production in July was at the highest monthly level since August of 2008, almost three years ago (see chart above).
2. Over the last year, industrial production has increased by 3.7%, and over the last three months industrial production has increased by 6% at an annual rate.
3. On a monthly basis, industrial production increased by almost 1% from June to July, the highest monthly growth since December of last year.
4. Manufacturing production increased in July by 3.8% on an annual basis.
The strong industrial output growth in July, especially for autos and parts, suggests that the supply chain disruptions from the earthquake in Japan have eased, and the manufacturing sector is back on a positive growth trajectory.