(RTTNews) - US industrial production rose in June for the first time in two months, while capacity utilization broke a string of four straight monthly declines by rising unexpectedly.

According to data released by the Federal Reserve Wednesday morning, June industrial production rose 0.5 percent, beating forecasts and snapping back from a May’s unrevised decline of 0.2 percent. Industrial production slipped 0.7 percent in April.

Capacity utilization in US factories rose marginally to 79.9 percent, up from May’s upwardly revised capacity utilization rate of 79.6 percent. It was originally reported in May as 79.4 percent, the lowest reading in more than two years.

Economist were expecting industrial production to tick higher by 0.2 percent in June, and forecast another decline in capacity utilization to 79.2 percent.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2008 RealTimeTraders.com, Inc. All Rights Reserved

Posted in Categories: Economy, Forex, Releases.

Subscribe by RSS Subscribe by Email