WASHINGTON — Industrial production grew, albeit at a slower pace, in July, the Federal Reserve reported today.
Total industrial production grew .2% last month, compared with .4% in June and was down .1% from July 2007. July's increase was the second month in a row of growth after four consecutive months of declines in industrial production.
Manufacturing output increased .4%, and that was caused in part by a 3.6% increase in motor vehicle and part production. However, manufacturing was still down 1.1% from last July.
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