The Federal Reserve reported today that industrial production rose a solid 0.4 percent last month after soaring 0.8 percent in June.  While a red hot July caused utility output (to power our air conditioners) to surge 2 percent, manufacturing output rose a subdued 0.1 percent to a new all-time high!  Still that's not too bad considering the 0.8 percent rise in manufacturing production in June.

All told, manufacturing output has increased 5.8 percent over the past year, led by double digit growth in primary metals, computers and electronic products, aerospace, and electrical equipment.

Not too bad...not too bad at all.