US factory output jumps 0.5 percent for biggest gain in year
WASHINGTON (AP) — U.S. factories cranked out more autos, machinery and chemicals in July, lifting production by the most in a year.
The figures suggest that U.S. manufacturing may be turning a corner after struggling to overcome the impact of a stronger dollar, slower overseas growth and falling oil prices.
Overall industrial production, which includes utilities and mining, expanded 0.7 percent.
Yet new orders received by factories fell 1.5 percent in June, the Commerce Department said, pushed down by a sharp fall in commercial aircraft demand, a volatile category.
Manufacturers are likely still reaping the benefits of automation and other productivity enhancements, allowing them to produce more without adding jobs.