Manufacturing, mining power U.S. industrial production
U.S. industrial production increased in June. This increase was boosted by gains in mining and manufacturing. These gains are a sign of a strong economy.
The economic outlook is uncertain due to escalating trade tensions.
“Time will tell if this disruption in foreign trade will slow the overall U.S. economy because manufacturers cannot get what they need to produce goods here for domestic consumption and for exports,” Chris Rupkey, chief economist at MUFG in New York, was quoted as saying in Reuters.