US industrial output climbs above expectations in July

US industrial production rose more than expected in July, data released on Friday showed.

According to figures published by the Federal Reserve, industrial output rose 0.6% last month, driven by a 10.6% surge in autos production.

The figure was above the 0.3% increase analysts had expected.

Excluding the jump in the automotive industry, production rose 0.1%, mining output climbed 0.2%, while utilities output declined 1%.

Meanwhile, capacity utilisation for the industrial sector increased 0.3% to 78%, compared with expectations for a 0.4% increase.