U.S. Factory Output Rises More Than Forecast in Broad Gain

(Bloomberg) — U.S. factory output increased in August by more than forecast in a broad advance that signals manufacturing may be starting to stabilize.

Production at manufacturers rose 0.5%, Federal Reserve data showed Tuesday, exceeding the median estimate in a Bloomberg survey of economists, after falling the prior month. Total industrial production, which also includes output at mines and utilities, increased 0.6%, the most in a year as crude oil extraction bounced back after Hurricane Barry depressed drilling in the Gulf of Mexico a month earlier.

Article URL : https://www.msn.com/en-us/money/markets/us-factory-output-rises-more-than-forecast-in-broad-gain/ar-AAHqMSk

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