The latest results indicate a steady advance in the nation’s manufacturing sector. Factory output climbed at a 1.9 percent annualized rate from April through June, marking the third straight quarterly increase. Automobile production jumped 7.8 percent in June from a month earlier when it plunged 8.6 percent after a major fire at a parts supplier. Last month’s increase was reflected in increased output of both consumer goods and business equipment.
Manufacturing Output in U.S. Rises by Most in Four Months
U.S. factory production rebounded in June by the most in four months as the industry regained its footing after a fire-related disruption at an auto parts supplier, Federal Reserve data showed Tuesday. Factory output rose 0.8 percent (est. 0.7% gain) after falling a revised 1% (prev. 0.7% drop. Total industrial production, which also includes mines and utilities, increased 0.6% (est. 0.5% rise) after a revised 0.5% decrease.
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