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Today's data deluge continues with the latest Industrial Production data from the Fed, which rose 0.4% MoM in August, beating expectations of a 0.3% print, after July's 0.1% print was revised higher to 0.4%.
Mining output rose 0.7% in August, the same as the prior month; it has advanced more than 14% in the past 12 months, supported by substantial increases in the oil and gas sector.
Contributor - August - Increase - Index - Utilities
The biggest contributor to the August increase was the index for utilities, which moved up 1.2% in August, as a rebound for electric utilities - i.e., soaring use of HVACs to offset the sweltering August heat - outweighed a small decline for gas utilities.
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