Industrial production up 0.2 pct. in August; factory output grows for 12th time in 13 months
By Daniel Wagner, APWednesday, September 15, 2010
Industrial production rises 0.2 percent in August
WASHINGTON — Industrial production rose modestly in August and the manufacturing sector grew for the 12th time in 13 months.
The Federal Reserve reports that output at the nation’s factories, mines and utilities edged up 0.2 percent last month. It rose 0.6 percent in July.
Production at factories, the largest single element of industrial production, slowed to 0.2 percent after gaining 0.7 percent in July. Much of softness came from a decline in auto production, which spiked in July. Excluding autos, manufacturing rose 0.5 percent.
Output rose for basic consumer goods such as food, clothing and paper by more than 1.0 percent.
Manufacturing has helped drive economic growth over the past year.
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