Industrial Production Rises in June

Industrial production increased 0.4% in June, the Federal Reserve said Tuesday.

The rise in activity at factories, mines and utilities followed a revised 0.2% drop in May that was originally reported as a 0.1% drop.

Economists had projected a 0.3% increase, Bloomberg reported.

Factory production, which makes up three-quarters of the total, rose 0.7%.

Production of motor vehicles climbed 1.9% in June after a 2.2% decrease the month before. Factory production excluding autos increased 0.6%.

Capacity utilization, which measures plant output, increased to 78.9%, from 78.7% in May.

Manufacturing accounts for about an eighth of the U.S. economy and the factory sector is one of trucking’s largest and most important customers.