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June jump in US industry output

US industrial production  jumped 0.8% in June after creeping up a revised 0.1%  in May, the Federal Reserve said this afternoon.

The report was double the rise of 0.4% expected by Wall Street analysts.

On an annual basis, industrial production - a measure of activity of US factories, mines and utilities - was up 4.5%. The Fed had initially reported a fall in May production of 0.1%.