Let's not be confused by the numbers. Industrial production is still declining. What does that mean? It implies that demand for goods and services still has not picked up. This number does not bode well for unemployment. We need more production to put unemployed workers back to work.
Just look at the numbers:
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Industrial production fell 0.4% in June, the slowest in eight months. In may the decline was 1.2%.
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Output fell 11.6% in the second quarter, compared with a drop of 19.1% in the first quarter.
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For the year auto and auto parts production fell 32.5%
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