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U.S. Industrial Production Climbs Much More Than Expected In February
(RTTNews) - The Federal Reserve released a report on Tuesday showing industrial production in the U.S. increased by much more than expected in the month of January.
The report said industrial production climbed by 0.7 percent in February after climbed by a downwardly revised 0.3 percent in January.
Economists had expected industrial production to rise by 0.2 percent compared to the 0.5 percent growth originally reported for the previous month.
The Fed said mining output surged by 2.8 percent and manufacturing output advanced by 0.9 percent, while utilities output tumbled by 2.5 percent.
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U.S. Consumer Price Growth Matches Estimates In June
A closely watched report released by the Commerce Department on Thursday showed consumer prices in the U.S. increased in line with economist estimates in the month of June. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.3 percent in June after inching up by an upwardly revised 0.2 percent in May.
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A closely watched report released by the Commerce Department on Thursday showed consumer prices in the U.S. increased in line with economist estimates in the month of June.
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Fed Leaves Interest Rates Unchanged In Divided Decision
The Federal Reserve on Wednesday announced its widely expected decision to leave interest rates unchanged for the fifth consecutive meeting. In support of its dual goals of maximum employment and inflation at the rate of 2 percent over the longer run, the Fed said it decided to maintain the target range for the federal funds rate at 4.25 to 4.50 percent.
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