The expected increase in industrial production in the United States in June.
Fed (Federal Reserve), a US Federal Reserve official on Tuesday, said it was offset by a seasonally adjusted 0.6 per cent rise in monthly industrial output compared to a 0.5 per cent fall in May.
In the second quarter of this year, industrial output grew by 6 per cent year-on-year, with an increase recorded in the third consecutive quarter.
In June, the manufacturing industry’s production increased by 0.8 percent and the mining industry expanded by 1.2 percent, while utilities decreased by 1.5 percent.
The utilization of industrial capacities rose by 0.3 percentage points to 78 percent in June. Analysts expected 78.3 percent.
The capacity utilization rate is still 1.8 percentage points lower than the long-term average of 1972 to 2017, indicating that there is still room for growth to grow.