Manufacturing leads US industrial output higherFriday 15 August 2014 16.01
Manufacturing pushed US industrial production higher in July in the sixth months of gains in a row, the Federal Reserve said today.
Total output of the nation's manufacturing, mining and utilities rose 0.4% in July, after an upwardly revised 0.4% gain in June.
The July output increase was slightly stronger than analysts expected. Manufacturing output surged 1%, its largest gain since February, and up from a 0.3% rise in each of the previous three months.
Leading the increase was production of motor vehicles and parts, revving up 10.1%, while other production rose 0.4%.
Mining output gains slowed sharply to 0.3% from 1.3% in June. Utilities output fell for the second month in a row, by 3.4%, as weather that was unusually mild for July reduced demand for air conditioning, the central bank said.
Year on year industrial output in July was up 5%.