Industrial Production Drought Ends

Although gross production from American factories, mines, and utilities has slowed for the past nine months, July marked a larger-than-expected increase in production and the first gain in the same period. Marking the second increase in production since December 2007, analysts have pointed to the statistic as a beacon of hope that the economy may be on a path to recovery.
 
The data came from the Federal Reserve, which noted a 0.5 percent total increase in production throughout the month of July, trumping the average analyst estimate of a 0.3 percent increase. Automakers were the most significant component of the increase, …read more