ECONOMY

Industrial Production Up in July: The figure increased moderately after a two-month decline, helped by hot-weather demand for electricity, the government said. Economists had expected the seasonally adjusted 0.4% gain in the Federal Reserve Board’s industrial production index, which followed drops of 0.1% in June and 0.2% in May. But they warned that the number is not as good as it looks. Sweltering weather in the East and elsewhere early in July kept air-conditioners working overtime. Consequently, production at utilities jumped 3.3%, helped by a 4% gain in the output of electricity.