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US industrial output tops estimates in June

by ChemOrbis Editorial Team - content@chemorbis.com
  • 15/07/2015 (17:14)
According to data released by the US Federal Reserve, the country’s industrial output rose by a larger than expected amount in June after following a decreasing trend in the last six consecutive months. Industrial production in the US rose 0.3% in June following a drop of 0.2% in the previous month. Economists’ initial estimates called for an increase of 0.2% in a survey conducted by the Wall Street Journal.

The increase was attributed to higher production in the mining and utilities sectors, which rose 1% and 1.5%, respectively. Manufacturing output remained unchanged while auto and auto parts production declined by 3.7% in June.

Meanwhile, the Fed also reported that the country’s capacity utilization rate increased to 78.4% in June from an upwardly revised rate of 78.2% in the previous month. Wall Street Journal economists’ expected the country’s June capacity utilization rate to increase to 78.1%.
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