News Summary: US factories raise output in June
BUSIER FACTORIES: U.S. factories turned out more business equipment, home electronics and autos in June. The Federal Reserve said factory production rose 0.3 in June from May. That followed a 0.2 increase in May. But the increases only offset production drops in March and April.
OVERALL PRODUCTION: Industrial production, which includes factories, mines and utilities, also rose 0.3 percent in June. Mining output increased 0.8 percent; utility output slid 0.1 percent.
SLOW RECOVERY: The uptick in factory production suggests manufacturing may be recovering from a slow start this year. Manufacturing output is still up just 1.8 percent over the past year. And factories have shed 24,000 jobs since February.
(Copyright 2013 by The Associated Press. All Rights Reserved.)