U.S. industrial production rebounded strongly in October as the adverse effect of Hurricane Ida faded. The country’s economy is trying to bounce back to normal and an increase in industrial production is a major sign that the recovery is taking place faster than expected.Industrial production has been on the rise but unexpectedly declined in September as Hurricane Ira wreaked havoc and hampered production at factories. However, October’s jump again proves that the momentum is not lost and is likely to continue as the economy reopens further. This is likely to benefit stocks like Welbilt WBT, Helios Technologies HLIO, Ferguson plc FERG and Applied Industrial Technologies AIT in the near term.Industrial Production RisesThe Federal Reserve said on Nov 16 that industrial production grew 1.6% in October after declining 1.3% in September. The Fed attributed October’s jump to the fast recovery from the effects of Hurricane Ida.October’s jump was higher than analysts’ expectation of a 0.7% rise.The rebound in production was led by a solid increase in the production of automobiles and motor vehicle parts that increased 11% in October.Capacity utilization for the overall industrial sector rose 1.2% to 76.4%.Moreover, manufacturing activity rose 1.2%. Mining, which includes oil and natural gas, grew 4.1% in October. Manufacturing accounts for nearly 11.9% of the total U.S. economy. The sector is being supported lately by low interest rates and continued higher demand for goods.Economy Recovering Faster Than ExpectedSeptember was a bad month, particularly for motor vehicles, as semiconductor shortages hampered vehicle production. Moreover, Hurricane Ida slowed down production, which somewhat eased in October.The massive fiscal stimulus that totaled more than $5 trillion coupled and broad-based vaccination drive gave people confidence and the power to make purchases. The huge stimulus, which saw direct payments being made via checks to millions of Americans, has been driving their spending. U.S. households amassed a massive $1.6 trillion in savings in just the third quarter.Moreover, the government, too, has been relaxing restrictions in a bid to reopen the economy faster. Although manufacturing activity somewhat slowed down in October, it has been gathering steam in the United States ever since the economy started reopening.Manufacturing activity came up with a reading of 60.8 in October. Anything above 50 indicates expansion in manufacturing.Our ChoicesGiven this scenario, it would be ideal to invest in the four stocks we have picked below. All these stocks have a Zacks Rank #1 (Strong Buy) or 2 (Buy) and assure good returns. You can see the complete list of today’s Zacks #1 Rank stocks here.Applied Industrial Technologies is a distributor of value-added industrial products, including engineered fluid power components, bearings, specialty flow control solutions, power transmission products and miscellaneous industrial supplies. AIT is also well known in the market for its engineering, design and systems integration services. Moreover, Applied Industrial Technologies’ inventory management solutions and maintenance training services boost the value of end users in the market. Applied Industrial Technologies recently reported first-quarter fiscal 2022 earnings of 1.36 per share, beating the Zacks Consensus Estimate of $1.19. AIT posted revenues of $891.68 million for the quarter ended September 2021, surpassing the Zacks Consensus Estimate by 4.56%.Applied Industrial Technologies’ expected earnings growth rate for the current year is 14.1%. The Zacks Consensus Estimate for current-year earnings has improved 1.9% over the past 60 days. Shares of Applied Industrial Technologies have gained 10.2% in the past 30 days. AIT has a Zacks Rank #2.Welbilt designs, manufactures and supplies food and beverage equipment for foodservice market. WBT operates primarily in the Americas, Europe and Asia. Welbilt’sbrands include Cleveland, Convotherm, Delfield, fitkitchen, Frymaster, Garland, Kolpak, Lincoln, Manitowoc Ice, Merco, Merrychefand Multiplex. Earlier this month, Welbilt reported third-quarter fiscal 2021 earnings of 21 cents per share, beating the Zacks Consensus Estimate of 15 cents. Over the last four quarters, WBT surpassed the consensus EPS estimates each time.Welbilt’s expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings has improved 3.2% over the past 60 days. Shares of WBT have gained 2.3% in the past 60 days. Welbilt has a Zacks Rank #1.Helios Technologies is an industrial technology company. HLIO develops and manufactures hydraulic and electronic control solutions. Helios Technologies’operating subsidiaries include Sun Hydraulics, Enovation Controls and Faster Group. Its operating business segment consists of Hydraulics and Electronics. The Hydraulics segment includes material handling, construction equipment, agriculture, specialized vehicles and energy.On Nov 7, Helios Technologies reported third-quarter fiscal 2021 earnings of $1.07 per share, outpacing the Zacks Consensus Estimate of 82 cents per share. Helios Technologies’expected earnings growth rate for the current year is 82.1%. The Zacks Consensus Estimate for current-year earnings has improved 6.8% over the past 60 days. Shares of HLIO have gained 30% in the past 30 days. Helios Technologies sports a Zacks Rank #1.Ferguson plc distributes plumbing and heating products in the United States and Canada. FERG offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets.Ferguson plc also distributes pipes, valves, fittings, plumbing supplies, water heaters, kitchen and bathroom fixtures, and appliances; heating, ventilation, air conditioning, and refrigeration products and supplies; and plumbing parts and supplies, fire sprinkler systems, hangers, struts, and fasteners. Ferguson plc’s expected earnings growth rate for the current year is 9.7%. The Zacks Consensus Estimate for current-year earnings has improved 10.5% over the past 60 days. Shares of FERG have gained 10.6% in the past 30 days. Ferguson plchas a Zacks Rank #2. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Applied Industrial Technologies, Inc. (AIT): Free Stock Analysis Report Welbilt, Inc. (WBT): Free Stock Analysis Report Helios Technologies, Inc (HLIO): Free Stock Analysis Report Wolseley PLC (FERG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research