U.S. ECONOMICS: Industrial Production In Line With Expectations, Capacity Utilization at Multiyear High
Industrial production increased 0.4% in July after an upwardly revised 0.4% June gain (was 0.2%), data released Friday showed, nudging capacity utilization to 79.2%, versus 79.1% previously.
The capacity-utilization rate is the highest rate of use since at least April 2007, according to YCharts data.
Manufacturing production increased 1.0% versus 0.3% previously (revised from 0.1%), with motor vehicles surging 10.1% from unchanged in June (revised up from -0.3% previously). Excluding vehicles, production was up 0.4%.
Machinery production rose 0.9% while computer/electronics added 0.8%. Utilities dropped 3.4, and have posted relatively large declines in five of the last six months. Mining rose 0.3% after solid gains since March.
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