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US factory output rises for 5th straight month

U.S. factory output increased for the fifth straight month in June. While the increase was modest, is has helped the economy return to growth after a contraction in the first three months of the year (Bill Pugliano, 2014 Getty Images)
U.S. factory output increased for the fifth straight month in June. While the increase was modest, is has helped the economy return to growth after a contraction in the first three months of the year (Bill Pugliano, 2014 Getty Images)
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Updated: 7/16 7:26 am

WASHINGTON (AP) — U.S. factory output increased for the fifth straight month in June as manufacturers cranked out more aircraft, chemicals and furniture.

The Federal Reserve says factory production rose 0.1 percent, down from a gain of 0.4 percent in the previous month. May's data was revised slightly lower, but April's reading was revised much higher.

While last month's increase was modest, manufacturers strongly boosted output in the April-June quarter. That has helped the economy return to growth after a sharp contraction in the first three months of the year. Factory output rose 6.7 percent in the second quarter, the most in more than two years.

Overall industrial production, which includes manufacturing, mining and utilities, edged up 0.2 percent in June, down from 0.5 percent in May.

 

©2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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