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Data: FRED; Chart: Axios Visuals

The supply-driven setback in industrial production in August and September is now looking more like a temporary blip.

Driving the news: Production rose 0.5% in November, and within that, manufacturing activity gained 0.7%, new data out from the Federal Reserve show.

Why it matters: It's another data point that suggests supply bottlenecks are starting to ease.

  • "Manufacturing output now stands some 2% above its pre-Covid level, and is on course for a 6% annualized increase in the fourth quarter, the best since Q4 2020," wrote Ian Shepherdson, chief economist at Pantheon Macroeconomics, in a research note.

"[T]he industrial recovery continues, and business surveys point clearly to further gains over the next few months," he added.

Go deeper

Dec 20, 2021 - Axios Denver

Colorado Springs adds jobs as Denver metro loses them

Expand chart
Data: Federal Reserve Bank of New York; Chart: Dani Alberti, Jacque Schrag and Baidi Wang/Axios

Colorado Springs is among a handful of metro areas nationwide that witnessed rare growth in jobs during the pandemic, according to data released last week from the Federal Reserve Bank of New York.

By the numbers: Colorado Springs has seen a 1.7% job growth increase since February 2020, ranking 6th among other metro areas reporting similar trends.

Hope King, author of Closer
1 hour ago - Economy & Business

Peloton pumps its brakes

Data: FactSet; Chart: Axios Visuals

Peloton’s popularity is falling as swiftly as it shot up.

Why it matters: Not all pandemic habits stick around. Peloton's trajectory over the past two years exemplifies how challenging it's been for companies to gauge shifts in consumer demand — particularly in sectors heavily altered by the pandemic.

First look: Senators propose bill to ban corporate PACs

Sens. Jon Ossoff and Mark Kelly. Photos: Chip Somodevilla (left), Courtney Pedroza/Getty Images

Sens. Mark Kelly (D-Ariz.) and Jon Ossoff (D-Ga.) will soon propose a bill prohibiting for-profit corporations from establishing and managing political action committees, according to a copy of the legislation obtained by Axios.

Why it matters: The introduction of "The Ban Corporate PACs Act" comes amid heightened scrutiny on Capitol Hill regarding money in politics, including efforts to bar companies from influencing political campaigns and federal elections. It would likely face a court challenge and First Amendment concerns.