Industrial production in US makes largest gain in seven months

Wednesday, 17 August 2011 01:10:09 (GMT+3)   |  
       

The US Federal Reserve reported Tuesday that industrial production in the US--which includes output from factories, mines and utilities--made its highest advance since December 2010, rising 0.9 percent in July.

Factory activity alone was up 0.6 percent in July, but auto assemblies rose to an 8.7-million unit annual rate in July from 7.9 million units in June, the highest rate since March, as the US auto industry recovered from the parts shortage that resulted from  a major earthquake and tsunami hitting Japan in March.

Industrial capacity utilization rates were up as well, rising to 77.5 percent in July from 76.9 percent in June--the highest level since August 2008.


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