Industrial Production Falls 0.4%, Capacity Use at 75.5% in August

Industrial production fell 0.4% in August, the Federal Reserve reported Thursday.

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The production decrease followed a revised 0.6% gain in July, first reported as a 0.7% increase.

Capacity utilization dipped to 75.5% in August from an unrevised 75.9% the previous month.

Economists polled by Thomson Reuters projected a 0.3% drop for industrial production and a 75.7% capacity utilization rate.

Manufacturing output was down 0.4% in August, following a 0.4% decline in July.

Utilities' output grew 1.7% after decreasing 1.4% in July, while mining was down 9.3% after a 1.0% gain the month before.


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