U.S. Industrial Output Continues to Rise

American industry continued to pick up speed in August as overseas markets revive, with output at factories, mines and utility plants up 0.3%, the Federal Reserve said. The rise in industrial production is the seventh in a string of monthly increases that began in February after output had declined in 1998 to the slowest pace in five years. At factories alone, output increased 0.4%, with auto makers leading the advance. Last month’s increase in production meant American industry was operating at 80.8% of total capacity, up slightly from 80.7% in July. Analysts say U.S. industrial activity remains well below levels that can lead to inflation. Separately, the Labor Department said the number of new claims for unemployment benefits declined 4,000 in the latest week to 288,000.