Industrial Production Rises 3.0% in July

Industrial production increased 3.0% in July after rising 5.7% in June. Industrial production still remains 8.4% below pre-pandemic levels.

Manufacturing output increased 3.4% in July.  Durables manufacturing rose 5.5% and nondurable manufacturing rose 1.3%, with increases in textile and product mills (3.4%) and for petroleum and coal products (5.0%).

Mining output rose 0.8% in July but declined 17.0% at an annual rate for the month. The index for oil and gas well drilling fell 8.0%, and was 71.5% below its year-earlier level.

The output of utilities rose 3.3%; the output of electric utilities rose 3.9%, while the output of natural gas utilities increased 0.2%.

Read the Fed release.