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US industrial output rises 0.7% in July

by ChemOrbis Editorial Team -
  • 17/08/2016 (14:16)
According to media reports, data released by the US Federal Reserve showed that industrial production in the US increased 0.7% on a seasonally adjusted basis in July, posting the highest increase since November 2014 following a revised increase of 0.4% in the previous month.

Paul Ashworth, chief U.S. economist at Capital Economics said that consecutive increases were expected in June and July due to strong domestic auto demand and depreciation of the U.S. dollar.

Capacity utilization was reported to be at 75.9% in July. Economists’ initial estimates called for a slight increase to 75.6% in a survey conducted by The Wall Street Journal. Analysts noted that the capacity utilization figure was below the long-term average of 80% showing there is slack in the economy.
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