Following an increase in auto production and utility use this summer, U.S. production saw some gains, as reported in Business Week from Bloomberg.
The Federal Reserve reported a 3.3% increase in auto production in July (which was nearly twice the output of the previous month). Machinery production output was lower, though, with a decrease of 1.9% from the following month’s increase of 2.3%.
According to author Michelle Jamrisko, this rise in production was just a bit more than economist predicted:
Economists forecast a 0.5 percent rise, according to the Bloomberg survey median. Manufacturing, which makes up about 75 percent of total production, rose 0.5 percent for a second month.
I love to hear of ANY rise in production for U.S. manufacturing, it means money in our nation’s pockets , a gradual rise in employment and eventual economy stimulus.