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(ECONOMY) READ: Factory production up first time in ’09…

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Car factory lineSource: Washington Times

American factories increased their production in July after eight straight months of declining output, providing the most solid evidence to date that the moribund manufacturing sector may finally be on the mend.

At the same time, inflation remained subdued last month, easing fears — at least for now — that prices would shoot up when the recovery takes hold. Consumer prices were unchanged from June and declined by 2.1 percent compared to July 2008, mostly because of the steep fall in the price of gasoline.

With prices held in check, inflation-adjusted wages increased last month for the first time this year. Read More

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Written by dnnnewshound

August 16, 2009 at 11:57 am

Posted in Industry

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