Auto Industry Drives July Production Growth, Fed Says
Most markets saw output gains in July, except for nondurable consumer goods, which broke even. Consumer durable output grew nearly 5 percent, auto products gained 8.8 percent, and home electronics and miscellaneous goods rose 1.3 percent and 1.5 percent, respectively.
A jump in light truck production accounted for much of the auto industry's output gains.
Some of the few losing sectors were food, tobacco, and clothing. Within the non-energy nondurables category, that division dropped a total 0.2 percent in output.
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