Obama to push economy today as industrial production shows gain
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President Obama will focus on the economy this morning as he travels to a Home Depot in northern Virginia to push his plan to use energy-saving home retrofits as a way of stimulating the economy.
After meeting with labor, manufacturing and small-business leaders, Obama will have lunch with business leaders before meeting this afternoon with Senate Democrats on healthcare reform.
The president’s economic pitch comes amid some good economic news, part of the continuing trend of small steps indicating a possible economic recovery.
The Federal Reserve reported this morning that industrial production jumped 0.8% in November, the largest gain since August. Factory production was up after a drop in October.
Still, industrial activity was off by 5.1% from a year ago.
Wholesale prices, a measure of possible inflationary pressure, was up by 1.8% in November, the Labor Department reported today. October recorded a far more modest 0.3% gain.
Stripping out energy and food, the so-called core prices rose 0.5%, the biggest increase in more than a year. The number is important because some economists worry that a growing inflationary threat will force interest rates to be increased at a time when credit availability is still dicey.
-- Michael Muskal
Twitter.com/LATimesmuskal
