Industrial Production Jumps 0.9% in July

[Stay on top of transportation news: .]

Industrial production jumped 0.9% in July, the largest gain this year, as automobile manufacturing surged, the Federal Reserve said Tuesday.

The measure of output from factories, mines and utilities followed a revised 0.4% increase in June that was more than previously estimated.

The increase surpassed economists’ forecasts of a 0.5% rise, Bloomberg reported.

Factory production, which makes up three-quarters of the total, rose 0.6%.



Production of automobiles and parts leaped 5.2%, while factory production excluding autos rose 0.3%.

Business equipment production increased 0.6%.

Capacity utilization, which measures plant output, rose to 77.5%.

Manufacturing accounts for about an eighth of the U.S. economy and the factory sector is one of trucking’s largest and most important customers.

Ìý

Trending

Newsletter Signup

Subscribe to Transport Topics

 

Hot Topics