The Federal Reserve released its industrial production report on Wednesday. The U.S. industrial production rose 0.3% in June, exceeding expectations for a 0.2% increase, after a 0.2% decline in May. It was the biggest increase since November 2013.
The increase was driven by higher mining and utilities output. Mining output climbed by 1.0% in June, while utility output rose by 1.5%.
The U.S. manufacturing production flat in June.
Capacity utilisation rate increased to 78.4% in June from 78.2% in May. May's figure was revised up 78.2%. Analysts had expected a capacity utilisation rate of 78.1%.