August industrial production rebounded and exceeded market expectations. The Federal Reserve (FRB) announced that industrial production in August increased by 0.8% from the previous month on a seasonally adjusted basis. In the previous month, July, industrial production had decreased by 0.9% compared to the prior month. Notably, manufacturing output, which accounts for the largest portion of industrial production, rose by 0.9% from the previous month. The Federal Reserve analyzed that the increase in consumer demand has led to the rise in industrial production.
[Reuters]