Industrial production was up 0.4% in June, the Federal Reserve reported Friday.

The increase followed a revised 0.1% gain in May, first reported as unchanged.

Capacity utilization grew to 76.6% in June from 76.4 the previous month.

Economists polled by IFR Markets projected a 0.3% increase for industrial production and a 76.7% capacity utilization rate.

Manufacturing output rose 0.2% in June, following a 0.4% drop in May.

Utilities’ output was flat after increasing 0.8% in May, while mining was up 1.6% after a 1.9% gain the month before.

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Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.