U.S. industrial production rose 0.7 percent in July, following a 0.4 percent increase the month prior, the Federal Reserve said yesterday. Production was down 0.5 percent year-on-year, however. Manufacturing in July was up 0.5 percent, marking a 0.2 percent year-on-year gain. Utility output was up 2.1 percent in July and 3.5 percent year-on-year, while mining rose 0.7 percent in July but was down 10.2 percent year-on-year.
ABA survey: Most banks likely to stick with current core provider
While 69% of bankers are "extremely" or "somewhat likely" to remain with their current core provider at the next renewal, when they do pursue core conversions, the primary reason is poor customer service, according to ABA's survey results.