U.S. Industrial Production Unexpectedly Inches Up 0.1% In August
(RTTNews) - Industrial production in the U.S. unexpectedly edged slightly higher in the month of August, according to a report released by the Federal Reserve on Tuesday.
The Fed said industrial production crept up by 0.1 percent in August after falling by a downwardly revised 0.4 percent in July.
Economists had expected industrial production to slip by 0.1 percent, matching the dip originally reported for the previous month.
The unexpected uptick by industrial production partly reflected a notable rebound by mining output, which jumped by 0.9 percent in August after tumbling by 1.5 percent in July.
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