US industrial production up in July as auto output surges

The U.S. industrial production rose for the second month in July, driven by surge in auto production, the Federal Reserve said on Friday.

The U.S. industrial production, an indicator of factories, mines, and utilities output, rose 0.6 percent in July, following a 0.1 percent increase in the previous month.

The manufacturing output, the largest component of the overall industrial production, added 0.8 percent in July after falling 0.3 percent in June. The Fed attributed the rebound in manufacturing output to the surge in output of motor vehicles and parts. In July, the output of motor vehicles and parts jumped 10.6 percent, while production elsewhere in the manufacturing sector edged up 0.1 percent.

The index for mining went up 0.2 percent in July, compared with a 0.7 percent increase in June. Utilities output dropped 1 percent in the month after rising 2.3 percent in June.