Industrial Production in U.S. Climbs 0.2% on Utility Gain
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Industrial production in the U.S. rose less than forecast in June, restrained by declines in the output of autos and business equipment.
The 0.2 percent increase in production at factories, mines and utilities followed a revised 0.1 percent decrease the prior month that was initially reported as a gain, figures from the Federal Reserve showed today. Economists projected a 0.3 percent rise in June, according to the median estimate in a Bloomberg News survey. Factory production was unchanged last month, while utility use rebounded.