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Tuesday, July 16, 2013

Industrial Production Increased 0.3% in June

Industrial production grew 0.3% in June due primarily to a surge in motor vehicle and parts and high-tech. Both manufacturing and mining output increased, while utility production shrank.



Manufacturing rose 0.3% in June primarily due to a 1.3% growth in motor vehicle and parts and a 1.2% improvement in high-tech. Non-manufacturing production was mixed in June. Mining production continued to grow, increasing 0.8%. Utilities also followed the previous months declining trend, dropping 0.1%.

The capacity utilization rate rose slightly to 77.8 in June, but is below recovery highs seen earlier this year.

Read the Federal Reserve release.

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