U.S. industrial production surges 5.4% in June

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Ford Motor Co. line workers put together ventilators that the automaker is assembling at the Ford Rawsonville plant in Ypsilanti Township, Mich. The Federal Reserve said today that U.S. industrial production rose 5.4% in June, the second straight monthly gain. But it was still 10.9% below the level in February before the economy locked down in the face of the coroanavirus. PHOTO CREDIT: Carlos Osorio
Ford Motor Co. line workers put together ventilators that the automaker is assembling at the Ford Rawsonville plant in Ypsilanti Township, Mich. The Federal Reserve said today that U.S. industrial production rose 5.4% in June, the second straight monthly gain. But it was still 10.9% below the level in February before the economy locked down in the face of the coroanavirus. PHOTO CREDIT: Carlos Osorio
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Posted By: biztimes July 15, 2020

WASHINGTON — Production at America’s factories, utilities and mines surged last month, but remained well below pre-pandemic levels.

The Federal Reserve said today that U.S. industrial production rose 5.4% in June, the second straight monthly gain. But it was still 10.9% below the level in February before the economy locked down in the face of the coroanavirus.

Factory production jumped 7.2% in June. The figures were better than economists had forecast.

Production at utilities climbed 4.2%. But mining output sank 2.9% last month, the fifth straight drop, pulled down by plummeting oil and gas production.

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