Industrial Production Jumps 0.9% in June
roduction at U.S. factories, mines and utilities rose 0.9% in June, twice as much as expected, the Federal Reserve said Friday.
The increase was three times a revised 0.3% gain in May that had originally been reported as a 0.4% gain.
Economists had forecast a 0.4% rise, Bloomberg reported.
The proportion of industrial capacity in use rose to 80% in June, up from 79.4% in May.
Utility production rose almost 7% as Americans coped with high temperatures.
Mining output, including oil extraction, gained 0.4% following a revised 0.2% increase in May.
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