US industrial sector up after months of decline

By Agence France-Presse

Aug 18, 2023 12:37 am

WASHINGTON, D.C.: US industrial production rose sharply in July after two straight months of decline, lifted by a jump in automobile products and 'very high temperatures,' the Federal Reserve (Fed) said Wednesday.

While the rebound is positive news for producers, a downward revision to the manufacturing data from earlier this year means the July manufacturing index now sits below its level in July 2022.

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

HK central bank cuts interest rate

China to tax Taiwan agricultural imports

Meta, Spotify blast EU decisions on AI

Boeing to begin large-scale furloughs

Vietnam to remove pre-funding rule

Nintendo, Pokémon sue 'Palworld' producer

YouTube launches new TV-focused tools for creators