Industrial production up 0.2% in June (by Steve Goldstein)
WASHINGTON (MarketWatch) -- Industrial production rose 0.2% in June, the first rise in two months after supply chain disruptions following the earthquake in Japan, the Federal Reserve reported Friday. Economists polled by MarketWatch had anticipated a stronger growth rate of 0.5%. The growth in June was led by a 0.9% increase in the volatile utilities component, which largely reflects air conditioning usage, and manufacturing output didn't budge at all. Capacity utilization stayed at 76.7% for a second month, slightly below economist expectations of 76.9%. For the second quarter, industrial production rose at a slender 0.8% annual rate.