Overheard: Production Of Auto Parts Going Strong

Overheard: Production Of Auto Parts Going Strong

According to the Fed, auto parts production soared after lockdown.

From Bruce Kratofil, Babcox Audience Insights Manager

The production of auto parts and allied goods continued to be strong in November 2020. According to the Federal Reserve, the Industrial Production Index (2012=100) for this sector reached 145. This means the quantity produced was 45% higher than what it was in 2012. After a sharp plunge this spring because of the lockdown, parts production has soared and for now is at higher levels than before the lockdown. These parts include both OE and aftermarket parts. This data is seasonally adjusted by the Fed.

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