U.S. industrial production jumps 1 pct in July

WASHINGTON, Aug 17 (BestGrowthStock) – U.S. industrial production
expanded in July at twice the clip economists had expected, a
sign that at least one sector of the economy is still humming
along despite weakness in housing and jobs.

Boosted by increases in auto production, industrial output
jumped 1 percent last month, though the prior month’s slight
gain was revised to show a 0.1 percent decline, according to
Fed data released on Tuesday.

Capacity utilization, a measure of how fully firms are
employing their resources and a key benchmark for monetary
policy, rose to 74.8, the highest since September 2008, when
the financial crisis was raging.

Output gains were seen across the board, most notably in an
8.8 percent surge in automotive products, but also in business
equipment, which saw a 1.8 percent increase in July.
Manufacturing output rose 1.1 percent following a 0.5 percent
drop in June.

(Reporting by Pedro Nicolaci da Costa, Editing by Chizu

U.S. industrial production jumps 1 pct in July