U.S. manufacturing output increases more than expected in June

U.S. factory output increased for a second straight month in June as motor vehicle production accelerated amid the reopening of businesses, but the nascent improvement in manufacturing activity was overshadowed by surging new COVID-19 infections.

The Federal Reserve said on Wednesday manufacturing production increased 7.2% last month. Output at factories advanced by an unrevised 3.8% in May.

Economists polled by Reuters had forecast manufacturing output rising 5.6% in June. Overall industrial production rose 5.4% last month after gaining 1.4% in May.


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