Industrial production increased gradually in August, following a 0.9% rise in July according to a Federal Reserve report released this morning. This growth is below the six-month average of 0.3% and is consistent with a slowing pace of growth.
The manufacturing output posted a gain of 0.5%, driven largely by a 1.7% gain in motor vehicle production and decent gains in the other sectors.
The mining sector posted another month of positive growth, up 1.2%. The largest headwind to factory production was a 3.0% drop in utilities. August also saw the capacity utilization rate continue its recent trend, rising to 77.4% from 77.3%.
Read the report.