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Industrial Production Picks Up 0.6% in July

MarketWatch (08/15/12) Steve Goldstein

Industrial production picked up in July after two months of slight growth, the U.S. Federal Reserve reported today in the latest reading that shows the economy in the third quarter got off to a decent start. Industrial production picked up 0.6% in July after small 0.1% monthly gains in May and June. The 0.6% gain was as expected in a MarketWatch-compiled poll of economists. Capacity utilization rose to 79.3% in July from 78.9% in May—the highest level since April 2008.