US industrial output jumps 5.4% in June, -42.6% Q2: Fed
AFP
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File photo: Agencies

American industry saw a rebound in June as businesses began to reopen amid the coronavirus pandemic, with total output jumping by 5.4 percent compared to May, the Federal Reserve said Wednesday.

But for the April-June quarter, which included the worst of the COVID-19 outbreak so far, industrial production collapsed at an annual rate of 42.6 percent, "its largest quarterly decrease since the industrial sector retrenched after World War II," the Fed said.

Manufacturing surged 7.2 percent last month, but mining, including oil and gas production, fell 2.9 percent.