Industrial Production Jumps 0.9% in June
Click here to write a Letter to the Editor.
Manufacturing, which accounts for almost 90% of industrial production, rose 0.4% in June, led by new gains in automobile production. The factory sector is one of trucking’s largest and most important customers.
roduction at U.S. factories, mines and utilities rose 0.9% in June, twice as much as expected, the Federal Reserve said Friday.
The increase was three times a revised 0.3% gain in May that had originally been reported as a 0.4% gain.
Economists had forecast a 0.4% rise, Bloomberg reported.
The proportion of industrial capacity in use rose to 80% in June, up from 79.4% in May.
Utility production rose almost 7% as Americans coped with high temperatures.
Mining output, including oil extraction, gained 0.4% following a revised 0.2% increase in May.
