“A solid advance”; US industrial output up 0.6% in June

Summary: US industrial output up 0.6% in June, greater than expected; up 1.6% over past 12 months; Westpac: solid advance suggests US manufacturing activity could be improving; US Treasury yields up modestly; rate-cut expectations soften slightly; capacity utilisation rate rises to 78.8%. The Federal Reserve’s industrial production (IP) index measures real output from manufacturing, mining, electricity and gas company facilities located in the United States. These sectors are thought to...

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