US industrial production rise 0.6% in June, above estimates

Manufacturing output rise 0.4%; capacity utilization at 78.3%

By Ovunc Kutlu

ISTANBUL (AA) - US industrial production increased 0.6% in June, compared to the previous month, above market expectations, according to Federal Reserve data released Wednesday.

The market expected the figure to show a gain of 0.3% after it increased 0.9% in May.

"For the second quarter as a whole, industrial production increased at an annual rate of 4.3 percent," said the Fed.

Manufacturing output rose 0.4% in June from the previous month, coming in higher than expectations of a 0.2% gain.

The figure for May was revised slightly to an increase of 1% from a gain of 0.9%, while it rose 3.4% at an annual rate in the second quarter.

Capacity utilization, which indicates overall growth and demand in the economy, was at 78.8% in June, slightly higher than estimates of 78.5%.

That figure for May was revised to 78.3% from 78.7%.

Kaynak:

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