The 0.4 percent increase in September industrial production is nothing to get too excited about, but it is above expectations and I think it undermines a narrative that's been gaining force over the past several weeks about a divergence between the household sector (strong retail sales and consumer confidence numbers) and the corporate sector (weak business confidence numbers). What we see here is that on the ultimate production side indicator things are growing, just like retail sales are growing.
Economic data is full of ups and downs, but the USA is a really big country and international trade is a relatively small share of the economy. When households buy things, companies get revenue and make things but not otherwise.
TODAY IN SLATE
False rape accusations exist, and they are a serious problem.
Scotland Is Just the Beginning. Expect More Political Earthquakes in Europe.
I Bought the Huge iPhone. I’m Already Thinking of Returning It.
The Music Industry Is Ignoring Some of the Best Black Women Singing R&B
How Will You Carry Around Your Huge New iPhone? Apple Pants!
The Most Terrifying Thing About Ebola
The disease threatens humanity by preying on humanity.
The Other Huxtable Effect
Thirty years ago, The Cosby Show gave us one of TV’s great feminists.