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Autos boost July industrial production     (US & National News)
08/17/2010 12:14 P (EST)
WASHINGTON, Aug. 17 (UPI) -- U.S. industrial production rose 1.0 percent in July, boosted by output from the auto industry, the Federal Reserve said Tuesday.

Capacity utilization increased to 74.8 percent in the month from 74.1 percent in June, the highest production level since November 2008.

The 1.0 percent production increase was larger than the consensus forecast of a 0.6 percent rise. Industrial production has increased 7.7 percent since July 2009.

Manufacturing production rose 1.1 percent, with the only exception being non-durable consumer goods, which was unchanged, the Fed said. Durable goods production was up 4.9 percent led by a 9.9 percent rise in automotive products.

Excluding motor vehicles, industrial production was 0.6 percent higher in July.

Consumer goods production was up 1.1 percent in July after declining 0.6 percent the previous month.