• Industrial production increase...
Submitted by admin on Wed, 2008-07-16 15:25. ::
(AP) -- WASHINGTONÂ - Industrial output rose in June at the fastest pace in 11 months. The strength came from the end of a strike at American Axle and Manufacturing Holdings Inc. rather than any underlying boost to the economy.
The Federal Reserve reported Wednesday industrial production increased by 0.5% last month, the best showing since a 0.6% increase in July of last year.
The increase followed two months of declines and was better than had been expected. The rebound reflected a resumption of auto production following the end of a strike at Detroit-based parts supplier American Axle, however.
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