January 14, 2005

In spite of the concerns about the rough patch earlier in the year, the U.S. Industrial Production Index posted a solid 4.3% increase for 2004. The index increased at a better than expected 0.8% in December and 1.65% during the fourth quarter of 2004. The fourth quarter surge was a welcome surprise and the big question is whether the expansion will continue or will the economy slowdown, and if so, by how much?

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