Source: REUTERS
Lucia Mutikani
Reuters
12:08 p.m. CST, December 16, 2013
WASHINGTON (Reuters) - U.S. manufacturing output rose for a fourth straight month in November as production increased almost across the board, the latest suggestion the economy is gaining steam.
Production at the nation's factories advanced 0.6 percent last month, building on October's 0.5 percent gain, the Federal Reserve said on Monday.
That added to solid reports on retail sales and employment that have painted an upbeat picture of the economy and strengthened the case for the Federal Reserve to start reducing the pace of its monthly bond purchases.
"The outlook for 2014 is going to be bright. The economy has reached escape velocity and, with numbers like these, the Fed better start recalibrating," said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ in New York.
Read more:
http://www.chicagotribune.com/business/sns-rt-us-usa-economy-20131216,0,5267093.story
