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U.S. industrial production rises 0.6 pct in July

08-16-2012 08:19 BJT

WASHINGTON, Aug. 15 (Xinhua) -- U.S. industrial production increased 0.6 percent in July, evidence of the ongoing U.S. economic recovery, the U.S. Federal Reserve reported Wednesday.

The July increase in industrial production, an indicator of the output of mines, factories and utilities, followed a downwardly revised 0.1 percent gain in the previous month.

Manufacturing output, the largest component of the overall industrial production, advanced 0.5 percent last month. Manufacturing industry has shown upbeat performance since the U.S. economy began to recover in the second half of 2009.

Outside manufacturing, the output of mining sector rose 1.2 percent in July, and the output of utilities gained 1.3 percent last month.

The report also showed that overall industrial capacity utilization -- a key measure of slack in the industrial economy -- stood at 79.3 percent in July, 0.4 percentage point higher than the previous month, but was still 1 percentage points below its average from 1972 to 2011.

 

 

Editor:James |Source: Xinhua

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