THE ECONOMY

Industry Output Jumps in August: Total output by the nation’s factories, mines and utilities jumped an unexpected 1.1% last month after a slim 0.3% July gain, the Federal Reserve Board said. The output, led by a surge in production of new 1996-model cars and by strong demand for electricity during the month’s heat wave, rose in August at the fastest clip this year, the Fed said. The strong performance suggests the economy needs no help expanding, dashing many analysts’ hopes that any stimulative interest-rate cut will result from the Fed’s policy-setting meeting on Sept. 26. The August jump in industrial production is the strongest since a 1.1% rise last December.