US industrial output expanded last month at the fastest pace since April and manufacturing notched another solid advance, hinting at underlying resilience in an economy that has been struggling.
Industrial production increased by 0.6% in July, the Federal Reserve said on Wednesday, beating a 0.5% gain forecast by a Reuters poll of economists and compared with a downwardly revised increase of 0.1% in June. Factory production was up 0.5% in the month and utilities output rose a solid 1.3%, snapping back from a sharp 3.3% decline in June. Mining production rose 1.2%.
Capacity utilisation was 79.3%, just beating estimates.