- Analytics
- News and Tools
- Market News
- US industrial production well above forecasts
US industrial production well above forecasts
Industrial production in June grew at the fastest monthly rate in eleven months, on the back of strong auto and utility output. The Federal Reserve said Friday that industrial production grew 0.6% in June, topping the MarketWatch-compiled economist consensus for 0.5% growth. This is the fastest growth since last July. In addition, May's decline was revised to a 0.3% fall from an initially reported 0.4% drop.
Despite the gains, the factory sector is still struggling. For the second quarter as a whole, industrial production fell at an annual rate of 1%, its third consecutive quarterly decline and the fifth out of the past six. Compared to a year ago, production was down 0.7%. Manufacturing has been hurt by the strong dollar, the drop in oil prices, and the sluggish global economy.
Economists believe the sector has bottomed but signs of an upturn have proven elusive. There is concern that the Brexit vote could increase business uncertainty. The dollar has risen sharply against the British pound since the referendum in late June.
Utilities output jumped 2.4% in June due to hot weather in the month and capacity utilization rose to 75.4% in June from 74.9% in May. - Marketwatch
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
