Industrial production picked up in July after two months of slight growth, the Federal Reserve said Wednesday in the latest reading that shows the economy in the third quarter got off to a decent start
Industrial production picked up 0.6% in July after slender 0.1% monthly gains in May and June, the Fed said
The Fed had previously reported a 0.4% gain in June and a 0.2% drop in May
The 0.6% gain was as expected in a MarketWatch-compiled poll of economists
Capacity utilization rose to 79.3% in July from 78.9% in May - the highest level since April 2008
Even so, it's still 1% below its average from 1972 to 2011
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WASHINGTON (MarketWatch)
Builder confidence in the market for newly built single-family homes climbed in August to the highest level in more than five years on expectations the recovery in housing can continue.
The National Association of Home Builders/Wells Fargo housing market
index rose 2 points to a seasonally adjusted reading of 37, the best level since February 2007.
There's still a way to go for the index to reach the 50 level indicating "good" conditions, which hasn't been the case since April 2006.
The component measuring current sales conditions rose 3 points to 39, and the component measuring traffic of prospective buyers rose 3 points to 31.
The component measuring sales expectations in the next six months rose a point to 44
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