US Retail Sales, Factory Output Rebound

US Retail Sales, Factory Output Rebound

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some business indicators are upWhile U.S. economic data this summer have tended to suggest that the recovery from the recession is slowing, several releases this month painted a more optimistic picture.

The Federal Reserve said factory output increased 1.1 percent in July, the biggest increase since August 2009. Total industrial production rose 1 percent.
Meanwhile, housing construction rose 1.7 percent last month, a sliver of hope in the rocky real estate sector, reports the AP news service.

In other upbeat economic news, US retail sales, a key growth driver, rebounded in July after two months of decline, the government said.

Retail sales rose 0.4 percent from June to 362.7 billion dollars on the back of strong auto sales, the Commerce Department said.

The July figure was slightly lower than the 0.5 percent rise expected by most economists but it was the first rise in three months after declines of 0.3 percent and 1.0 percent in June and May respectively.

(READ that story from AFP via Google)

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