Industrial Production Edges Up: The Federal Reserve...

Industrial Production Edges Up: The Federal Reserve reported that industrial production edged up 0.4% in June. Last month’s gain, which followed a rise of 0.6% in May, surprised analysts who had been expecting a more modest increase. The Fed said the increases in automobile production and utility output accounted for three-fourths of the June increase. The Fed also reported that the operating rate of the nation’s factories, mines and utilities, which usually move in tandem with industrial production, rose 0.2% to 83.5% of capacity in June.