Real gross domestic product (GDP) grew 0.2% in July, after edging down (-0.1%) in June. The first increase in four months was predominantly driven by expansion in the goods-producing industries.
Goods-producing industries rebounded with a 0.6% increase in July, following three consecutive months of contraction, as all sectors in this grouping expanded. Services-producing industries edged up 0.1% in July, with increases in wholesale trade and real estate and rental and leasing tempered by a decline in retail trade. Overall, 11 of 20 industrial sectors expanded in July.
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