Industrial Production Rose 0.2% in July

Industrial production grew 0.2% in July after 0.4% June increase, according to the Federal Reserve. July represented the sixth consecutive month without a decline.

Manufacturing output fell 0.1% in July after a 0.2% increase in June. Production of durable goods decreased 0.5%, while nondurables edged up 0.4% during the month. Capacity utilization for manufacturing decreased by 0.1 percentage point to 75.4%, a rate that is 3.0 percentage points below its long-run average.

The output of mining continued to rise, increasing 0.5% in July, following an upwardly revised 2.0% June jump. The index in July was 10.2% higher than its year-earlier level.

Utilities increased 1.6% in July, following a 1.2% decline in June. The index in July was 0.6% lower than its year-earlier level.

Read the Fed release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.
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