U.S. factory output increased in August at a solid clip, reversing a sharp drop in July, as production of metals, machinery and chemicals all rose.
The Federal Reserve said Tuesday that manufacturing production climbed 0.5% last month, after a 0.4% drop in July.
Manufacturers have by hit this year by the U.S.-China trade war, which has raised their costs and curtailed their exports. Manufacturing output fell in the first two quarters of this year, the first time that’s happened since 2016. In the past 12 months, factory output has fallen 0.4%.
Industrial production, which includes manufacturing, mining and utilities, rose 0.6% in August. Mining output jumped 1.4%, partly because oil and gas drilling rebounded after Hurricane Barry shut down production in July. Utility output rose 0.6%.
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