Industrial production up for 1st time in 9 months

Production from the nation's factories, mines and utilities rose more than expected in July, with the first gain in nine months driven by increased output from auto companies.

The increase provides more evidence that the worst recession since World War II is easing. It marks only the second gain in industrial production since the downturn began in December 2007.

The Federal Reserve said Friday that production rose 0.5 percent in July, after falling 0.4 percent in June. Economists expected a 0.3 percent increase, according to Thomson Reuters.

Read Full Article from The Associated Press

- Posted: 2009-08-14 10:12:32

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