Industrial production data shows continuing recovery in manufacturing
The National Association of Manufacturers pointed to Tuesday’s Federal Reserve report that overall industrial production rose 0.5% in June, led by a 0.6% rise in manufacturing output, as an indication that industry is making a recovery.
The National Association of Manufacturers pointed to Tuesday’s Federal Reserve report that overall industrial production rose 0.5% in June, led by a 0.6% rise in manufacturing output, as an indication that industry is making a recovery.“With production expanding for a fourth-consecutive month with its strongest gains of the quarter, manufacturing is on the mend,” said David Huether, the NAM’s chief economist.Manufacturing production grew by 3.4% in the second quarter, the fastest pace since the 4.4% growth in the third quarter of last year. Of 19 major manufacturing industries, 14 increased production in the second quarter of this year.Read the rest of the report here .
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