Industrial production in the nation was down 1.1% in August while capacity utilization fell to 78.7, according to data released by the Federal Reserve Board yesterday.

The drop in production level followed a 0.1% increase the previous month, originally reported as a 0.2% rise, while July capacity use was a revised 79.7.

IFR Markets had forecast a 0.3% decline for production and a 79.5% level for capacity utilization.

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