Factory output up 0.4%, best gain in 10 months

Led by an increase in motor vehicles, the output of U.S. factories rose 0.4% in July, the best gain in 10 months, the Federal Reserve reported Friday.

Overall, industrial production at the nation's factories, mines and utilities increased a seasonally adjusted 0.2%, as expected, despite a 1.9% drop in output of utilities.
Output of mines increased 0.9% in July.

June's industrial production was revised lower to a 0.4% increase. Industrial production has now risen two months in a row, after having fallen the previous four months.

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- Posted: 2008-08-15 09:22:56

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