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US industrial production rises more than expected

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US industrial production rises more than expected

0.7% increase in July beats expectations.

According to a report from the Federal Reserve, US industrial output rose 0.7% in July.  This follows a downwardly revised 0.4% increase in June.

 

Analysts had expected an increase of 0.3%.

Manufacturing output increased 0.5% during the month, with gains largely across the board. 

 

The results muddy the waters somewhat in determining US growth in the near term.  They also add to the somewhat confusing array of data driving the Fed’s decision on whether to raise interest rates this fall.  Labor markets appear relatively strong, while the flat CPI announced yesterday suggests that inflation remains tame.  

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