US industrial production lifts steadily in July

By Dow Jones newswires

Industrial production, reflecting the output of US factories, utilities, and mines, rose a seasonally adjusted 0. 4 per cent in July from the prior month, the Federal Reserve said Friday.

From a year ago, output climbed 5 per cent in July, suggesting the economy is steadily but slowly gaining speed.

Manufacturing production, the biggest component of the overall figure, climbed 1 per cent in July, the sharpest increase since February.

US industrial production rose steadily in July, a sign the economy carried momentum into the second half of the year.

Many economists expect the economy to continue to grow at a pace of around 3 per cent in the quarter that began in July.

Read more here: Business Spectator

    

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