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US Industrial Production Up 0.6% In July, Beating Market Consensus

16.08.2022 16:57

Manufacturing output grows 0.7%, official data shows.

US industrial production increased 0.6% in July, beating forecast of a 0.3% hike, according to data released Tuesday by the Federal Reserve.

The figure rebounded from a 0.2% contraction in June.

Manufacturing output rose 0.7% last month, well above estimates of a 0.2% rise after a drop of 0.4% in June.

Capacity utilization, which indicates overall growth and demand in the economy, climbed 0.4 percentage points to 80.3%. -



 
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