U.S. Manufacturing Production Rose for Second Month in July
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U.S. factory production expanded in July for a second consecutive month, indicating a steady outlook at the start of the second half of 2018, Federal Reserve data showed Wednesday.
The report showed gains in manufacturing of durable goods, including machinery, vehicles, computers and electronics. Factory production was 2.8 percent higher than its level a year ago, indicating steady demand -- underpinned by lower corporate and consumer taxes and a strong job market -- will keep supporting factory activity.