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8/14, 3:15 PM (Source: TeleTrader)
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US industrial production up 3% in July

Industrial production in the United States increased by 3% in July compared to the previous month, but still stood 8.2% lower year-on-year, the Federal Reserve revealed in a report on Friday.

Manufacturing production saw a monthly rise of 3.4% in July, with a 28.3% jump registered in motor vehicles and parts sector, but decreased by 7.7% compared to July the year prior. Capacity utilization gained 2.1% to stand at 70.6% in the seventh month.

Mining production grew in July, for the first time in five months, advancing 0.8% month-on-month.

Breaking the News / BU