Investing.com – Industrial production in the U.S. rose more than expected in June, bolstering optimism over the health of the economy, official data showed on Friday.
In a report, the Federal Reserve said that industrial production increased by 0.4% from the previous month, above expectations for a 0.3% rise and compared to a gain of 0.1% in May that was revised from an initial unchanged reading.
Meanwhile, manufacturing production increased by a seasonally adjusted 0.2% last month, in line with forecasts for a 0.2% rise and following a decline of 0.4% in May.
The report also showed that the capacity utilization rate, a measure of how fully firms are using their resources, edged up to 76.6% in June from 76.4% (revised from 76.6%) the prior month. Analysts had expected it to increase to 76.7%.
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