US industrial output figures, including manufacturing, utilities and mining, registered a better than expected 0.5 per cent rise in July, fuelling speculation that the recession is over and growth will now ensue.
The rise follows a 0.4 per cent decline in June. Analysts had expected growth of just 0.3 per cent. The Federal Reserve revealed the first rise in production for nine months was led by a long awaited resurgence in automotive output which was up 20.1 per cent following three straight months of decline. Manufacturing output…
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