Industrial production remained unchanged in January 2023. However, manufacturing output increased after a substantial fall over the prior two months. Moreover, in January 2023, the Industrial Production Index came in at 103 in the United States, and a value of over 100 shows positive production performance.
Such positive data should bode well for industrial stocks Caterpillar Inc. (CAT), Tennant Company (TNC), and Apogee Enterprises, Inc. (APOG). I think this is the right opportunity to invest and take advantage of their upside potential.
