Daniel J. Meckstroth, Ph.D., vice president and chief economist
The manufacturing industrial production index increased by 0.1% in May after falling by a strong 0.4% in April and 0.3% in March. On a year-over-year basis, the index is 1.7% higher in May 2013 than one year ago. The small production gain in May was the difference between some large increases and large declines in major industries. MAPI forecasts that manufacturing production will increase 3.1% in 2013 and grow 3.6% in 2014. Economic Update

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