The output of the nation’s factories, mines and utilities surged 0.9% in July as auto assemblies rebounded and consumers turned on their air conditioners, the Federal Reserve said Tuesday.
The gain, the biggest since last December, was in line with economists’ expectations.
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Total motor vehicle assemblies rose to 8.7 million unit annual rate in July from a 7.9 million rate in June. This is the highest rate since March, when Japan was hit by a devastating earthquake that upset production of key auto parts and paints. Marketwatch
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U.S. Auto Industry Surged in July
Diposkan oleh Pengetahuan dan Pengalaman on Tuesday, August 16, 2011
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