The Federal Reserve released its industrial production report on Friday. The U.S. industrial production rose 0.6% in July, exceeding expectations for a 0.3% increase, after a 0.1% gain in June. June's figure was revised down from a 0.2% rise.
The increase was driven by higher factory output. Factory output climbed by 0.8% in July.
Mining output climbed 0.2% in July, while utilities production declined 1.0%.
Capacity utilisation rate increased to 78.8% in July from 77.7% in June, in line with expectations. June's figure was revised down 77.8%.