Administration OKs new fuel standards for trucks

WASHINGTON — The Obama administration says it's continuing to address global warming by adopting previously announced standards to make large trucks, buses and other heavy-duty vehicles more fuel efficient. These vehicles account for more than one-fifth of transportation-related fuel consumption and the emission of greenhouse gases that are blamed for harming the environment. The Environmental Protection Agency and the Transportation Department say the standards will cut carbon pollution, save vehicle owners billions of dollars in fuel costs and conserve tens of billions of gallons of oil. The standards require up to 25 percent lower carbon emissions and fuel consumption for certain tractors. The standards apply through 2027.

Home construction climbs to a 6-month high in July

WASHINGTON — Apartment construction in the Northeast fueled a jump in home building in July as the pace of housing starts nationwide reached the strongest pace in six months. The rate of overall construction rose 2.1 percent to a seasonally adjusted annual rate of 1.21 million from 1.19 million in June, the Commerce Department said Tuesday. That was the highest level since February. Most of the gain came from an 8.3 percent acceleration in the construction of multifamily buildings. Construction of single-family houses edged up just 0.3 percent.

Factory output jumps to biggest gain in year

WASHINGTON — U.S. factories cranked out more autos, machinery and chemicals in July, lifting production by the most in a year. The Federal Reserve said Tuesday that factory output grew 0.5 percent in July, after a 0.3 percent gain in June. The figures suggest that U.S. manufacturing may be turning a corner after struggling to overcome the impact of a stronger dollar, slower overseas growth and falling oil prices. Still, factory output is just 0.2 percent higher than it was a year ago. And even as output ticks up, manufacturers aren't adding many jobs. Overall industrial production, which includes utilities and mining, expanded 0.7 percent. That is the biggest increase since November 2014. Utilities output jumped 2.1 percent as hotter-than-usual weather boosted air conditioning use. Mining activity rose 0.7 percent, its third straight gain. "The worst is behind us," said Stephen Stanley, chief economist at Amherst Pierpont Securities.

"The outlook is significantly improved from the flat-to-down prevailing trend seen up until recently."