Factory output seen 8% up in July – Moody’s

MANUFACTURING output in July likely grew by 8 percent from a year ago driven by domestic demand although at a slower pace than the 8.5 percent growth seen in June, the economic research arm of Moody’s Investors Service said.

In its latest weekly outlook, Moody’s Analytics said strong domestic demand and rapid economic growth would keep production increasing rapidly for the rest of 2016.