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Industrial Production Continues to Rise, Fed Reports

Industrial production gained 1.2 percent last month after rising 0.7 percent in May, the Federal Reserve reports. Manufacturing output grew 0.9 percent, reaching 7.9 percent higher than its levels at this time last year. Total industrial output was 7.6 percent higher than last year's levels.

Nearly all major market groups saw output increases last month. Consumer goods production grew 1.2 percent, and consumer nondurable goods rose 0.8 percent. All major categories of non-energy nondurables rose except for chemical products, which dropped 1.1 percent. Consumer energy product output climbed 1.6 percent. All of that category's components gained except for automotive gasoline, which dropped significantly.

After two consecutive gaining months, construction supply output rose by 0.8 percent. The production index for durable goods grew 1.7 percent last month, and categories of wood products, primary metals, fabricated metal products, machinery, motor vehicles and parts, and furniture-related products all gained.

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