Aug. industrial production above expectations

Industrial production grew 0.4% in August, the Federal Reserve reported Friday.

industrial production

The increase followed a revised 0.4% rise in July, first reported as a 0.1% gain.

Capacity utilization rose to 78.1% in August from a downwardly revised 77.9 in July, first reported as 78.1%.

Economists polled by IFR Markets projected a 0.3% increase for industrial production and a 78.2% capacity utilization rate.

Manufacturing output was up 0.2% in August, following an unrevised 0.3% gain in July.

Utilities’ output grew 1.2% after increasing 0.1% in July, while mining was 0.7% higher after a 0.7% increase the month before.

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