Industrial activity posted a solid rebound in July, according to this morning’s update from the Federal Reserve. Production increased 0.6% last month, marking a robust acceleration from the flat-to-sluggish readings that have prevailed this year. July’s surprisingly strong rebound, in fact, is the biggest monthly gain since last November.
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US industrial production is expected to increase 0.1% in today’s July report that’s due later this morning vs. the previous month, according to The Capital Spectator’s average point forecast for several econometric estimates. The average prediction represents a slight deceleration in growth after the previous month’s 0.2% advance.
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● US retail sales rise a solid 0.6% in July
● US jobless claims inch higher, but 4-week avg at 15-year low
● Bloomberg’s US Consumer Comfort Index remains close to 2-month low
● US import prices slide in July, the most in 6 months
● Eurozone GDP rise 0.3% in Q2, slightly weaker than expected