WASHINGTON (AP) — U.S. factory output rebounded in June as manufacturers churned out more cars and furniture, a reassuring sign for U.S. industry.
The Federal Reserve says factory production rose 0.2 percent last month, reversing a drop of 0.4 percent in May.
Overall industrial production — including factories, mines and utilities — rose 0.4 percent after growing 0.1 percent in May. Utility output was flat. Mine production rose 1.6 percent on top of May’s 1.9 percent increase on ramped up oil drilling and coal mining.
American industry has sent out mixed signals recently. The Institute for Supply Management reported last week that its manufacturing index rose last month to the highest level since August 2014. But the Commerce Department reported that orders to U.S. factories fell for the second straight month in May.
First Published July 14, 2017 12:00 AM