US Industrial Production Growth Strongest in 8-Months

Industrial output in the US rose 0.6 percent in July after a downwardly revised increase of 0.1 percent in June. The gain was a result of a 0.8 percent growth in factory production supported by a surge in production of motor vehicles.

Manufacturing output, which accounts for almost three-quarters of overall industrial production, rose 0.8 percent compared to 0.3 percent contraction in June and  the strongest since November. Auto and auto parts manufacturing was the primary driver, increasing 10.6 percent. Production elsewhere in manufacturing edged up just 0.1 percent.

The index for mining rose 0.2 percent compared to 0.7 percent growth in June. The index for utilities fell 1.0 percent compared to a 2.3 percent surge in June.

At 107.5 percent of its 2012 average, total industrial production in July was 1.3 percent above its year-earlier level.

Capacity utilization for the industrial sector increased 0.3 percentage point in July to 78.0 percent, a rate that is 2.1 percentage points below its long-run (1972–2014) average.

US Industrial Production Growth Strongest in 8-Months

Federal Reserve |
8/14/2015 2:33:24 PM