US industrial output rises 0.7% in July

[WASHINGTON] US industrial production rose more than expected in July, according to Federal Reserve data released on Tuesday.

Industrial output increased 0.7 per cent last month after an downwardly revised 0.4 per cent increase in June. Last month, manufacturing output rose 0.5 per cent.

Economists polled by Reuters had forecast industrial production climbing 0.3 per cent last month.

REUTERS