Industrial production increased 0.1 percent in July after an upwardly revised 1.0 percent increase in June, according to the Federal Reserve. Capacity utilization remained at 78.1 percent in July, a rate that is 1.7 points below its long-run average.
Manufacturing output increased 0.3 percent after rising 0.8 percent last month. Production of durable goods increased 0.4 percent, while nondurable goods production rose 0.2 percent. Capacity utilization for manufacturing rose 0.2 percentage point to 75.9 percent, a rate that is 2.4 percentage points below its long-run average.
The output of mining declined 0.3 percent after increasing 2.9 percent in June. The index in July was 12.9 percent higher than its year-earlier level.
Utilities decreased 0.5 percent in July, after declining 0.7 percent in June. The index in July was 2.3 percent higher than its year-earlier level.
Read the Fed release.
