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U.S. Factory Output Rises More Than Forecast in Broad Advance
U.S. factory output increased in August by more than forecast in a broad advance that signals manufacturing may be starting to stabilize. Production at manufacturers rose 0.5%, Federal Reserve data showed Tuesday, exceeding the median estimate in a Bloomberg survey of economists, after falling the prior month. Total industrial production, which also includes output at mines and utilities, increased 0.6%, the most in a year as crude oil extraction bounced back after Hurricane Barry depressed drilling in the Gulf of Mexico a month earlier. • The gain marks a welcome respite from the deterioration in manufacturing ... (full story)
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