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Updated:
9/16/2009 10:30:00 AM
Industrial Production Rises 0.8%
Industrial production rose for a second straight month in August, gaining 0.8%, the Federal Reserve said Wednesday.
The upturn in production at factories, mines and utilities followed a 1% increase in July that was more than previously forecast.
Economists had predicted a 0.6% gain, Bloomberg reported. The amount of industrial capacity in use rose to 69.6%, the highest since February, from 69% in July.
Factory output, which accounts for about four-fifths of production, rose 0.6%, following a 1.4% increase the previous month.
The factory sector is one of trucking’s largest and most important customers.
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