Industrial Production Increases in July

Industrial production increased 0.9% in July after moving up 0.2% in June. Total industrial production in July was 6.6% higher than its year-earlier level but remains 0.2% below pre-pandemic levels.

Manufacturing output increased 1.4% in July. Nearly half of the gain in output is attributable to an increase of 11.2% for motor vehicles and parts. Durable manufacturing increased 2.4%, while nondurable manufacturing increased 0.3%. The output of utilities decreased 2.1%, while the index for mining increased 1.2% in July.

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