U.S. Industrial Production Climbs More Than Expected In June

(RTTNews) - Partly reflecting a surge by utilities output, the Federal Reserve released a report on Wednesday showing industrial production in the U.S. increased by more than expected in the month of June.

The Fed said industrial production climbed by 0.3 percent in June, while revised data showed industrial production was unchanged in May.

Economists had expected industrial production to inch up by 0.1 percent compared to the 0.2 percent dip originally reported for the previous month.

The bigger than expected increase by industrial production came as utilities output shot up by 2.8 percent in June after tumbling by 2.5 percent in May.