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Broad Gain in U.S. Factory Production Signals Strength

Bloomberg (08/15/14) Jeanna Smialek

U.S. manufacturing production in July was the strongest in five months, increasing by 1.0% from the previous month, according to the U.S. Federal Reserve. Total industrial production grew 0.4%. “The manufacturing sector at this point appears to be firing on all cylinders and, if anything, that’s an indication that momentum in the U.S. economy is picking up,” said Millan Mulraine, deputy head of U.S. research and strategy at TD Securities USA LLC. “We’ve seen it in machinery and computers, and also in motor vehicle production.”