US industrial production up 0.6% in July, beating market consensus

By Tuba Sahin

ANKARA (AA) - US industrial production increased 0.6% in July, beating forecast of a 0.3% hike, according to data released Tuesday by the Federal Reserve.

The figure rebounded from a 0.2% contraction in June.

Manufacturing output rose 0.7% last month, well above estimates of a 0.2% rise after a drop of 0.4% in June.

Capacity utilization, which indicates overall growth and demand in the economy, climbed 0.4 percentage points to 80.3%.