Manufacturers leading early stages of recovery

The Associated Press published an article yesterday about the gains in industrial production seen in August, yet another sign of the road to recovery. Here's one snippet:

In part, the improvement reflected auto sales that were boosted by the government's now-ended Cash for Clunkers program. But analysts were impressed that output rose broadly across industries.

"Vehicles are not the whole story," Nigel Gault, chief U.S. economist at IHS Global Insight, said in a note to clients.

Gault noted that production rose in five out of 10 categories of durable goods, including machinery and electrical equipment.