Industrial output surges as Japan quake impact eases

U.S. industrial output posted its best gain in seven months in July as the auto sector bounced back from supply disruptions wrought by Japan's devastating earthquake in March.

The surprisingly strong production data, together with a smaller-than-expected decline in home building last month, further eased fears the economy was at risk of contracting.

"I don't think we are headed for a second recession," said Ryan Sweet, a senior economist at Moody's Analytics in West Chester, Pennsylvania.

Industrial output increased 0.9 percent, the Federal Reserve said on Tuesday, after a 0.4 percent gain in June -- nearly double economists' expectations for a 0.5 percent rise.

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- Posted: 2011-08-16 12:29:16

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