U.S. industrial production rose more than expected in July, according to Federal Reserve data released on Tuesday.
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The advance in July was the largest for the index since November 2014. Utilities jumped 2.1% on above average summer temperatures, while mining gained 0.7% after declining 0.3% in June.
Industrial production in July saw the biggest one-month gain in 20 months, suggesting that the factory sector could be on the mend.
Economists had forecast that industrial production rose 0.3% month-on-month in July.
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Compared to the same period of 2015, production is still down 0.5%. Capacity utilization, a measure of how much industries are making as a share of potential output, rose to 75.9%.
