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Production up, giving economic forecast shot in arm

first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREOregon Ducks football players get stuck on Disney ride during Rose Bowl event“The economy is becoming a well-oiled machine,” said Joel Naroff, president of Naroff Economic Advisors. Industrial strength in March was broad-based. Machinery, clothing, consumer appliances, furniture and carpeting, and business equipment all posted production gains. Even the struggling automotive sector saw some improvement. That swamped some weakness in home electronics and textiles. Economists believe economic growth for the January-March quarter will clock in at a brisk pace of 4.5 percent or higher. The government will release first-quarter figures at the end of the month. In the current April-to-June quarter, the economy is expected to moderate to a pace in the range of 3 percent, which would still represent good growth, analysts said. With the economy solidly chugging ahead, the Federal Reserve and other economists are being especially watchful for any signs that inflation may flare up. WASHINGTON – U.S. industry headed into the spring with a full head of steam: Production at factories, mines and utilities rose by 0.6 percent in March in the latest encouraging sign for the economy. The snapshot of industrial activity, released by the Federal Reserve on Friday, comes on the heels of other positive economic barometers. Consumers – a key ingredient of the country’s economic health – are keeping cash registers busy, and businesses are ramping up hiring, according to recent government reports. The solid increase in industrial production in March came after a 0.5 percent advance in February and was the largest since December. The showing was better than economists were expecting. The Federal Reserve boosted a key interest rate to a five-year high on March 28, the latest in a series of rate-raising moves since June 2004 to keep inflation in check. Many analysts expect another rate increase on May 10, the Fed’s next meeting. The proportion of overall industrial capacity in use climbed in March to 81.3 percent, the highest since September 2000, the Fed report showed. Economists look at this capacity utilization figure for clues about the future inflation climate. For instance, if plants were running at full tilt and couldn’t crank out enough goods to satisfy customers’ demand, there could be a run up in prices. March’s capacity utilization figure isn’t worrisome at this point, analysts said. “We are not there yet. I think anything north of 83 percent, we could see price pressures,” said Ken Mayland, president of ClearView Economics. The biggest slice of overall industrial production is manufacturing. Production at factories rebounded in March, rising by 0.5 percent. Daniel Meckstroth, chief economist for the Manufacturers Alliance/MAPI, a research group, said the performance is akin to “a green light for manufacturing.” Analysts said factories are benefiting from decent demand for their goods not only from customers in the United States but also from other countries.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more


first_imgFOUR DONEGAL primary schools have secured All-Ireland finals at the Aviva!They landed Ulster titles in the Spar 5s.Scoil an Choimín Lifford, Lurgybrack National School, St Oran’s in Cockhill, Buncrana, St Patrick’s in Lurgybrack, Letterkenny and Scoil Íosagáin, Buncrana, all landed Ulster titles. Scoil an Choimín, Lifford won the SPAR Cup A for small schools mixed/boys:Luke Mag Fhloinn, Josh O’Brollacháin, Niall O’Dochartaigh, Daniel O’Meanthaile, James O’Cnaimshí, Ross O’Brollacháin, James Mag Fhloinn, Cormac O’CnaimhsMuniteoir: Laura Ní Ghallachóir Príomhoide SN an Choimín: Máire Ní GhallchóirSt. Oran’s NS, Cockhill won the SPAR Cup Girls ‘B’ (Medium schools, girls only): Molly Boyd, Leah McDaid, Aoife Gallanagh, Louise Gallanagh, Cora McColgan, Rebecca Rodgers, Kelly Fullerton, Rachel McCallionTeachers: Kathryn Doherty, Shauna McLaughlinSt. Patrick’s NS, Lurgybrack won the SPAR Cup ‘C’ (Large schools, mixed/boys): Nathan Plumb, Adam Murphy, Josh McCullagh, Jay Maguire, James Gallagher, Harry Winfield, David Boyle, James DonaheyTeacher: A FrielScoil Íosagáin, Buncrana won the SPAR Cup Girls ‘C’ (Large schools, girls only): Katelyn Doherty, Aoife McDaid, Amalie Webster, Keri Loughrey, Jodie Loughrey, Connie Doherty, Ciara McGee, Ellen ClearyTeacher: Conor Delap Congratulations to Donegal’s four winners who will represent Ulster at the SPAR FAI Primary School 5s National Finals in the Aviva Stadium, Dublin on Wednesday, May 11. CELEBRATIONS AS FOUR DONEGAL SCHOOLS WIN ULSTER TITLES TO LAND DREAM AVIVA DATE was last modified: April 23rd, 2016 by John2Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:donegalInishowenLiffordLURGYBRACKspar 5sst oran’slast_img read more