Fac­tory pro­duc­tion rises 0.2% in June

Northwest Arkansas Democrat-Gazette - - BUSINESS & FARM -

WASHINGTON — U.S. fac­tory pro­duc­tion in­creased in 0.2 per­cent in June in line with an­a­lysts’ fore­casts, as de­mand for nat­u­ral re­sources, au­to­mo­biles and ma­chin­ery re­bounded, Fed­eral Re­serve data showed Fri­day.

The na­tion’s in­dus­trial pro­duc­tion has strength­ened for five-straight months amid ro­bust do­mes­tic de­mand and stronger growth abroad. That’s the long­est stretch of im­prove­ment since 2014.

The re­port showed man­u­fac­tur­ing posted a mod­est gain, in line with a grad­ual im­prove­ment that’s been slowed by weak out­put of mo­tor ve­hi­cles, busi­ness equip­ment and con­struc­tion sup­plies. Min­ing com­pa­nies, in par­tic­u­lar, have shown healthy ad­vances for the past three months, and util­i­ties have sta­bi­lized af­ter a weak start to the year. Ca­pac­ity uti­liza­tion reached the high­est level since Au­gust 2015.

A big fo­cus of the re­port has been auto pro­duc­tion, a bright spot in the econ­omy’s ex­pan­sion in re­cent years. Af­ter weak­en­ing in three of the first five months of the year, auto out­put edged up last month, the re­port showed.

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