USA Industrial Output Rose in August

Resource from: CBCC Likes:2926

Sep 18,2009

Report shows that manufacturing may finally be recovering Industrial output rose 0.8 percent in August, following an upwardly revised increase of 0.4 percent in July to 1.4 percent, according to a report from the U.S. Labor Department released today. Production in manufacturing expanded 0.6 percent in August, and the index excluding motor vehicles and parts increased 0.4 percent. The report gives further credence that the worst recession in nearly 70 years may be finally ending. Production in manufacturing expanded 0.6 percent in August, and the factory operating rate increased to 66.6 percent, a rate 13.0 percentage points below its 1972-2008 average. The upward revision to manufacturing production in July was led by output gains for steel products and high-tech products that were stronger than previously reported, while much of the upward revision for April through June reflected higher production of chemicals. The output of durable goods moved up 0.5 percent in August. Primary metals; machinery; electrical equipment, appliances, and components; and miscellaneous manufacturing all posted gains between 1/2 and 1 percent.

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