Jul 15, 2016
Manufacturing in the U.S. last month posted the strongest advance since January, helped by automobile production and a sign domestic demand is improving.
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The 0.4 percent gain at factories, which make up 75 percent of total industrial production, followed a 0.3 percent decline in May, a Federal Reserve report showed Friday in Washington. The median forecast in a Bloomberg survey of 25 economists called for a 0.3 percent rise. Total industrial production, which also includes mines and utilities, jumped 0.6 percent, also exceeding the median forecast and the biggest gain in almost a year.
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