The output of the nation’s factories, mines and utilities surged 0.9% in July as auto assemblies rebounded and consumers turned on their air conditioners, the Federal Reserve said Tuesday.
The gain, the biggest since last December, was in line with economists’ expectations.
Total motor vehicle assemblies rose to 8.7 million unit annual rate in July from a 7.9 million rate in June. This is the highest rate since March, when Japan was hit by a devastating earthquake that upset production of key auto parts and paints. Marketwatch
Tuesday, August 16, 2011
U.S. Auto Industry Surged in July
The auto industry is on the upswing, you know, the industry that Obama saved. If Obama can take credit for anything at all it's the decision to save the U.S. auto industry. Where were all the media stories that told about how the U.S. investment in the auto industry paid off? The media wouldn't write such a story because then they would have be portrayed as siding with Obama.