Industrial production climbs 0.3% in June

Industrial production climbs 0.3% in June

Industrial production rose 0.3% in June, led by a 2.2% gain in home electronics output and a 1.4% gain in automotive products, as well as a 0.8% gain in mining production, the Federal Reserve said Tuesday. The production was stronger than the 0.1% expected in a MarketWatch-compiled economist poll, and April's output was revised to negative 0.3% from negative 0.4%. May's flat reading was unrevised. The rate of capacity utilization edged up 0.1 percentage point to 77.8%, higher than the 77.6% expected and a rate that was 0.1 percentage point above May but 2.4 percentage points below its 1972 to 2012 average