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- David Kelly, chief market strategist at JPMorgan Funds
U.S. month on month industrial production rose 0.2% in September on increasing demand for computers and automobiles, after stagnating in August, said the Federal Reserve on Monday. An increase is in line with economists’ expectations.
“You can’t scare America into recession right now,” said David Kelly, chief market strategist at JPMorgan Funds. The data “have been quite good in the last few weeks.”
“Today's industrial number continues the theme of situational economics, which has come up a lot lately. If you are in the right situation, you are doing OK. If you are not, you are not,” said Robert Dye, chief economist at Comerica. “Auto and energy intensive parts of the countries are stable, but in other areas of the country, we are seeing some softness.”