Always Good News : U.S. Industrial Output Rises .6% in July
Following an increase in auto production and utility use this summer, U.S. production saw some gains, as reported in Business Week from Bloomberg.
Car photo (photo courtesy wikipedia)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.
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