US Manufacturing Output Beats Expectations With 0.4% Rise in June

AMERIKA SERIKAT / AS -  WASHINGTON - Production at U.S. factories increased more than expected in June, contributing to a solid rebound in output in the second quarter, though higher borrowing costs remain a constraint for the manufacturing industry.

Factory output rose 0.4% last month following an upwardly revised 1.0% increase in May, the Federal Reserve said on Wednesday. Economists polled by Reuters had forecast factory output would advance 0.2% after a previously reported 0.9% jump in May. Production at factories shot up 1.1% on a year-on-year basis in June.