The industrial sector appears to be rebounding, with new figures showing production increased 0.8% during June.

Tuesday the Federal Reserve also reported the total output of the nation’s factories, mines and utilities increased a revised 0.4% in May, up from an originally reported 0.3% increase.
The June production increase is the largest since October 1999, while output at factories was the sixth consecutive monthly increase.
Home electronics, motor vehicles and parts, and computers and office equipment accounted for higher production levels at factories, while production of appliances, furniture and carpeting declined.
The news came as Federal Reserve Chairman Alan Greenspan testified before the Senate Banking Committee that the nation is on the road to an economic recovery, but is still reeling from the effects of last year’s recession.
Greenspan said, “the U.S. economy is poised to resume a pattern of sustainable growth.”
His remarks were more upbeat than the last time he testified before Congress, saying this time around the Federal Reserve expects the U.S. economy to grow 3.5% to 3.75% when measured from the fourth quarter of last year.
The chairman also addressed concerns about recent stock market jitters, saying corporate CEOs should be held accountable to accurately report on the financial condition of their companies and should be penalized for not doing so.