WASHINGTON, Aug 17 — American auto assembly lines continued working last month, pushing industrial production above analysts’ expectations, according to Federal Reserve data today.
That helped to account for a surprise 0.9 percent jump in industrial output last month, was more than analysts had forecast and well above June’s 0.2 percent growth. Despite the gains in the sector, the Fed said motor vehicle production was about 3.5 percentage points below its peak in January of this year.Ian Shepherdson of Pantheon Macroeconomics said industrial production was gaining at a “solid pace,” though he noted the auto sector was volatile, while the drop in utilities was weather driven.
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