Industrial Production Rises in July
Industrial production increased 0.6% in July, the Federal Reserve said Wednesday.
The rise in activity at factories, mines and utilities followed a revised 0.1% gain in June that was originally reported as a 0.4% gain.
Economists had projected a 0.5% increase, Bloomberg reported.
Manufacturing, which makes up 75% of the total, rose 0.5%.
Production of motor vehicles climbed 3.3% in July after a 1.9% increase the month before.
Factory production excluding autos increased 0.2%.
Capacity utilization, which measures plant output, increased to 79.3%, from 78.9% in June.
Manufacturing accounts for about an eighth of the U.S. economy and the factory sector is one of trucking’s largest and most important customers.
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