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Friday's good news economic data point comes from the world's best commercial airplane manufacturer, The Boeing Company (BA), which announced it will boost production of its largest airplane to meet increasing demand. Boeing said the production rate of the 777 will return to seven per month in mid-2011, instead of early-2012. Further, production of the jumbo jet standard, the 747, will increase to two a month, from about 1 ½ per month, starting in mid-2012, instead of mid-2013.
Boeing's shares rose 79 cents to $71.65 in Friday afternoon trading, despite a decline in the Dow, which was down about 47 points to 10,732.
Economic Analysis: Now that's an encouraging sign -- an increase in demand from Asian markets, combined with Boeing's conservative production strategy, has set the stage for production increases at BA.
The significance? That means more orders for parts and other items that go into the planes -- a delightful, positive development for lateral sectors and others that depend on Boeing's work. Outside of the end to large, monthly job lay-offs, Boeing's production increase may be the best economic news in the U.S. so far this year.
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