US manufacturing production rises more than expected in June

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WASHINGTON (Reuters) – Factory production in the United States rose for the second consecutive month in June, as car production accelerated as activity resumed, but increased cases of Covid-19 overshadowed a nascent improvement in manufacturing activity.

The Federal Reserve said on Wednesday that manufacturing production increased 7.2 percent last month. Factory production rose at an unmodified pace of 3.8 percent in May.

Economists polled by Reuters had expected an increase of 5.6 percent in June. Total industrial production rose 5.4 percent last month after increasing 1.4 percent in May.

Prepared by Mahmoud Salama for the Arab Bulletin – Edited by Moataz Mohamed





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