Industrial production in the U.S. was up 0.5% in July while capacity utilization rose to 68.5, according to data released Friday by the Federal Reserve Board.

The rise in production level followed a 0.4% decrease the previous month, originally reported as a 0.4% slip, while June capacity use was revised up to 68.1 from 68.0.

Thomson Reuters had forecast a 0.3% increase for production, and a 68.3% level for capacity utilization.

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