WASHINGTON (AP) - U.S. industrial production rose by a healthy 0.4 percent in August, boosted by gains in the production of autos, oil and natural gas.
The Federal Reserve said Friday that industrial production, which includes output at factories, mines and utilities, has climbed 4.9 percent over the past 12 months. Industrial production appears on track for its strongest annual growth since 2010, when it jumped 5.5 percent as the economy began to recover from the Great Recession.
Factory production increased 0.2 percent last month, lifted by a 4 percent rise in the making of vehicles and parts. Automakers assembled vehicles at their strongest pace since April.
FILE- In this June 5, 2018, file photo a roll of steel is moved into position at the Borusan Mannesmann Pipe manufacturing facility in Baytown, Texas. On Friday, Sept. 14, the Federal Reserve reports on U.S. industrial production for August. (AP Photo/David J. Phillip, File)
Still, factory production has slowed over the past two months as trade conflicts have created uncertainty for the sector. The Trump administration is seeking to revamp the North American Free Trade Agreement with Mexico and Canada, has imposed tariffs on imported steel and aluminum and has slapped tariffs on goods from China and threatened to impose more.
The recent slowdown in factory output might stem from an 8 percent increase since April in the value of the U.S. dollar against foreign currencies, said Michael Pearce, senior U.S. economist at Capital Economics, an economic research firm. A higher-valued dollar makes U.S. exports less affordable overseas.
"The more modest 0.2 percent gain in manufacturing output provides further evidence that the appreciation of the dollar over the past six months is now beginning to weigh more heavily on output in the factory sector," Pearce said.
Mining output posted a 0.7 percent monthly gain in August. A sharp increase in the production of oil and natural gas has caused mining output to soar 14.1 percent over the past 12 months. Increased oil and natural gas production can support factories that make pipelines, machinery and other equipment.
Production at utilizes advanced 1.2 percent in August, powered by a surge in electricity usage during the hot month.
Other reports suggest that manufacturing is healthy, despite signs that its job growth is slowing. U.S. factories grew at a faster pace in August as American industry continues to show robust health.
The Institute for Supply Management said its manufacturing index jumped rose to 61.3 in August from 58.1 in July. Anything over 50 points toward expansion and economic growth. The manufacturing index has pointed toward growth for the past two years.
Still, job growth at U.S. factories has decelerated in recent months. Manufacturers added just 36,000 factory workers for the three months that ended in August, according to the Bureau of Labor Statistics. That's down from three-month gains of as many as 90,000 earlier this year.
FILE- In this June 5, 2018, file photo Erik Cordova inspects a steel pipe at the Borusan Mannesmann Pipe manufacturing facility Tuesday, June 5, 2018, in Baytown, Texas. On Friday, Sept. 14, the Federal Reserve reports on U.S. industrial production for August. (AP Photo/David J. Phillip, File)
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Main photo article WASHINGTON (AP) – U.S. industrial production rose by a healthy 0.4 percent in August, boosted by gains in the production of autos, oil and natural gas.
The Federal Reserve said Friday that industrial production, which includes output at factories, mines and utilities, has climbed 4.9...
It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.
Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.
Dianne Reeves Online news HienaLouca
https://i.dailymail.co.uk/1/2018/09/14/15/wire-4294164-1536935704-839_634x412.jpg
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