Manufacturing activity picked up in August
Monday, September 16, 2013 3:55 PM
U.S. industrial production rose in August as a bounce-back in motor vehicle assembly lifted manufacturing output, Reuters reported. Although another report today showed a slight pullback in factory activity in New York state this month, businesses were upbeat about the future and new orders and shipments jumped, all pointing to a pickup in manufacturing after it hit a speed bump in the spring. Industrial output increased 0.4 percent last month after being flat in July, according to the Federal Reserve, Reuters reported. The rise was in line with economists' expectations.