Thursday, August 15, 2013

Industrial Production Remained Stagnant in July

Industrial production remained unchanged in July, along with slight downward revisions to previous reports. The mining output increased while manufacturing and utility production shrank.

Manufacturing, the key indicator of the three, declined 0.1% in July primarily due to a 1.7% drop in motor vehicle and parts production. Non-manufacturing production was mixed in July. Mining production grew by 2.1% while utilities shrank by 2.1%. Both continued their upward and downward trends respectively.

The capacity utilization ratio dropped slightly to 77.6 from a revised 77.7 from the previous month, but is below recovery highs seen earlier this year.

Read the Federal Reserve release.

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