industrial policy

Industrial Production & Capacity Utilization for October 2010

The Federal Reserve's Factory Production report shows a 0.0%, no change for October 2010 in Industrial Production. Here is a detailed report. It's not as bad as it sounds, manufacturing output itself increased and utilities dragged the index down. High temperatures are blamed for the drop in utilities, but myself, I cannot help but wonder if less people can afford them?


USTR - No Mention of China's Currency Manipulation in Report

The Office of the United States Trade Representative has issued a report on foreign trade barriers. Contained within is no mention whatsoever of Chinese currency manipulation. There is mention of VAT manipulation, tariff-rate quotas and even a 35% tariff on raisins. (who knew?)

While the press is calling this report hard line, I find it kind of wimpy and even question some of the trade figures quoted.