Economic Watch: Industrial Production Falls Slightly
Industrial production in the U.S. fell slightly in August, its first decline since January, according to a report released Monday by the Federal Reserve.
Industrial production in the U.S. fell slightly in August, its first decline since January, according to a report released Monday by the Federal Reserve.
This measure of the total output at the nation’s factories, mines and utilities decreased 0.1% from July, while it was revised downward from an earlier reported 0.4% gain in July’s to a 0.2% increase.
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The declines in total industrial production and in manufacturing output in August reflected a decrease of 7.6% in the production of motor vehicles and parts, which had jumped more than 9% in July, according to the Fed. Excluding motor vehicles and parts, factory output rose 0.1% in both July and August. Overall manufacturing output fell 0.4% in August.
The production at mines moved up 0.5% in August, and the output of utilities rose 1%.
At 104.1% of its 2007 average, total industrial production in August was 4.1% above its year-earlier level. Capacity utilization for total industry decreased 0.3 of a percentage point in August to 78.8%, 1 percentage point above its level of a year earlier and 1.3 percentage point below its 1972–2013 average.
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