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US industrial production edged higher in July

Kurtis Franzen builds a 2015 Victory Cross Country motorcycle on the assembly line at the Polaris Industries factory on August 8, 2014 in Spirit Lake, Iowa.
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Kurtis Franzen builds a 2015 Victory Cross Country motorcycle on the assembly line at the Polaris Industries factory on August 8, 2014 in Spirit Lake, Iowa.

U.S. industrial production edged higher in July, as production of auto parts and motor vehicles jumped 10.1 percent, according to data released by the Federal Reserve on Friday.

Industrial production rose 0.4 percent, which was unchanged from June.

The June increase was previously reported at 0.2 percent.

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Economists polled by Reuters had forecast industrial output rising 0.3 percent.

Manufacturing output rose 1.0 percent, in what the Fed said was the largest increase since February. Economists expected a rise of 0.4 percent.

Production at mines moved up 0.3 percent, the ninth consecutive monthly increase. Utility output fell 3.4 percent due to mild July weather that cut demand for air conditioning.

By Reuters

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