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US industrial production rises at fastest pace in 3 months; consumer prices fall

from The Associated Press via The Washington Post

U.S. manufacturing is recovering from a slump, and inflation may be peaking. Data point to an economy growing slowly but steadily. Still, surging oil prices and a possible European recession threaten to drain the economy’s momentum. Output at the nation's factories, utilities and mines rose 0.7 percent last month, the Federal Reserve said. It was the fastest growth in three months. more

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