US industrial production expanded last month at the fastest pace since April. It increased by 0.6 percent, which was better than June’s 0.1 percent gain.
Manufacturing was up and there were solid gains in utilities production and mining.
However, a separate report showed factory activity in New York state contracted this month for the first time since last October.
Analysts remain wary: “Given the weakness in many forward looking manufacturing indicators such as the new orders survey and the build up of inventories relative to sales, we expect further slowing,” said Bricklin Dwyer, an economist at BNP Paribas in New York.
US inflation was flat for the second straight month in July. That gives the Federal Reserve room for further stimulus measures to tackle stubbornly high unemployment.
The unemployment rate is at an uncomfortably high 8.3 percent. Data on job growth and retail sales have hinted at a pick-up in economic activity early in the third quarter.
“While further monetary easing remains a viable option for the Fed, the timing may be delayed for more dire conditions,” said Michael Woolfolk, a senior currency strategist at BNY Mellon in New York.
Copyright © 2014 euronewsMore about:
- 1Kremlin to help Rosneft and banks hit by sanctions
- 2Microsoft investigated by Chinese anti-monopoly body
- 3Apple – feeling size matters – reportedly plans bigger iPad tablet
- 4Making fortunes with Lego, legally and illegally
- 5Hungary gets a bitcoin cash machine as the virtual currency craze reaches Budapest
- 1Hungary gets a bitcoin cash machine as the virtual currency craze reaches Budapest
- 2Ukraine related sanctions affect farmers, shoppers, tourists and burger eaters
- 3Stronger dollar pushes euro’s value down, eurozone business growth slows
- 4The ‘Green Rush’ takes off as US businesses invest in legal marijuana
- 5European farmers protest over lost revenue from Russia sanctions retaliation
- 1#ن: How an Arabic letter was reclaimed to support Iraq’s persecuted Christians | euronews, world news
- 2Ellen MacArthur: making waves on a journey to a circular economy | euronews, the global conversation
- 3China executes eight Muslims convicted of terrorism | euronews, world news
- 4Putin T-Shirts flying off the shelves at Moscow megastore | euronews, world news
- 5Everything you need to know about the Ebola virus | euronews, world news
- 6Ukraine accuses Russian aid convoy of stealing factory equipment | euronews, world news
- 7Massive Swedish forest fire is declared a national emergency | euronews, world news
- 8Risk of fresh ash cloud threatens European air travel | euronews, world news
- 9Iceland warns Europe’s airlines of possible volcanic eruption | euronews, world news
- 10Beyond the subconscious | euronews, futuris
- 11Man, 27, fails in suicide bid after tigers reject chance to eat him | euronews, world news
- 12Romania buys into bitcoin big time | euronews, corporate
- 13Bardarbunga volcano in Iceland continues to rumble | euronews, world news
- 14Poland wants compensation from the EU for Russian import ban | euronews, world news
- 15EU’s Russia sanctions doing more harm than good says Hungary’s PM Orban | euronews, world news
- 16A robot that grows | euronews, futuris
- 17Hoverbike on the horizon | euronews, hi-tech
- 18Turkey’s women have the last laugh | euronews, world news
- 19Greek farmers suffer in economic war between Russia and EU | euronews, economy
- 20Hamas executes 18 suspected collaborators | euronews, world news
Wires > Business
- 19:05 CET Germany ready to dilute austerity medicine for reform-minded France
- 18:22 CET Apple invites media to Sept. 9 event; new iPhones anticipated
- 18:09 CET Bankers prep 5 billion euros of leveraged loans for host of sales
- 18:07 CET FTSE retreats as Ukraine tension grows
- 18:00 CET Alstom wins power line contracts in India, Korea, Canada
- 17:55 CET French company chiefs want more aggressive euro policy
- 17:48 CET Alibaba revenue accelerates ahead of IPO
- 17:46 CET Telefonica prevails in battle for Vivendi’s Brazil unit GVT