Factory Output and Home Builder Confidence Rise

Industrial production in the United States rose in June as factories made more cars, machines and business equipment, while a measure of confidence among home builders swelled to a five-year high, according to reports issued Tuesday.

Also, consumer prices were unchanged in June, held down by cheaper gasoline. Outside the volatile food and energy categories, inflation was mild.

According to the Federal Reserve, industrial production has recovered to levels reached this spring but appears to be leveling off.

Factory output rose 0.7 percent last month, after falling by the same amount in May, the Fed said. Factories produced more machines and vehicles used by businesses. Production of consumer goods edged higher. Auto production rebounded after its first decline of the year.

Read Full Article from New York Times

- Posted: 2012-07-17 13:02:35

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