Manufacturing in the U.S. last month posted the strongest advance since January, helped by automobile production and a sign domestic demand is improving.
The 0.4% gain at factories, which make up 75% of total industrial production, followed a 0.3% decline in May, a Federal Reserve report showed Friday in Washington. The median forecast in a Bloomberg survey of 25 economists called for a 0.3% rise. Total industrial production, which also includes mines and utilities, jumped 0.6%, also exceeding the median forecast and the biggest gain in almost a year.
