Industrial Production Tops Forecast With 0.3% Rise In June

Industrial production rose 0.3% in June and capacity utilization continued to grow, according to data released by the Federal Reserve on Wednesday. Economists polled by MarketWatch had expected a 0.1% rise. The gain came despite a 3.7% drop in the output of motor vehicles and parts, as other durable goods and consumer energy products improved. Capacity utilization rose to 78.4% from an upwardly revised 78.2%, faster than the 78.1% expected.