April growth in production points to early signs of recovery

June 17th, 2009
Author : Biz2Credit Advisor

There are signs of recovery from the global crisis as the index of industrial production rose 1.4 percent the first gain in 17 monthsEleven of 17 industry groups showed, according to new data from the Organization of Economic Cooperation and Development (OECD).

Eleven of 17 industry groups showed a positive growth in April, compared to the same time last year.

The furniture and fixtures sector showed the highest growth at 31.4 percent, followed by wool, silk and man-made fiber textiles, with a 12.6 percent growth rate, said the International Business Times.

On the other hand, food product production showed a negative growth of 34.4 percent, followed by a 12.4 percent decline in leather and fur products.

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