US industrial production rises 0.8% in August, more than estimates
Manufacturing output up 0.9%, capacity utilization at 78.0%
By Ovunc Kutlu
ISTANBUL (AA) - US industrial production rose 0.8% in August, increasing more than expectations, according to Federal Reserve data released Tuesday.
The market expected the figure to show a gain of 0.2%. The figure for July was revised from a decline of 0.6% to a decrease of 0.9%.
"Most major market groups posted gains in August, with the jump in the output of motor vehicles and parts contributing to the strength recorded across a variety of categories," said the Fed.
Manufacturing output increased 0.9% in August from the previous month.
The figure for July was revised from a decline of 0.3% to a decrease of 0.7%.
Capacity utilization, which indicates overall growth and demand in the economy, rose to 78.0% in August, slightly higher than estimates of 77.9%.
That figure for July, on the other hand, was revised down to 77.4% from 78.4%.
Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.
