U.S. manufacturing output increases more than expected in June – ZAWYA

U.S. manufacturing output increases more than expected in June – ZAWYA

U.S. manufacturing output increases more than expected in June | ZAWYA MENA Edition HomeEconomyGlobalArticleU.S. manufacturing output increases more than expected in June Federal Reserve said on Wednesday manufacturing production increased 7.2% last month    Image used for illustrative purpose. Workers assemble vehicles at a plant of Changan Ford, a joint venture between Changan Automobile and Ford Motor Company, in Harbin, Heilongjiang province, China, February 22, 2017. REUTERS/Stringer. WASHINGTON- U.S. factory output increased for a second straight month in June as motor vehicle production accelerated amid the reopening of businesses, but the nascent improvement in manufacturing activity was overshadowed by surging new COVID-19 infections.The Federal Reserve said on Wednesday manufacturing production increased 7.2% last month after climbing 3.8% in May. Still, factory output was 11.1% below its level in February.Economists polled by Reuters had forecast manufacturing output rising 5.6% in June.The Federal Reserve said on Wednesday manufacturing production increased 7.2% last month after climbing 3.8% in May. Still, factory output was 11.1% below its level in February.WASHINGTON- U.S. factory output increased for a second straight month in June as motor vehicle production accelerated amid the reopening of businesses, but the nascent improvement in manufacturing activity was overshadowed by surging new COVID-19