Industrial Production Jumps 0.7%, Capacity Use at 75.9% in July

Industrial production surged 0.7% in July, the Federal Reserve reported Tuesday.

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The production increase followed a revised 0.4% gain in June, first reported as a 0.6% increase.

Capacity utilization gained to 75.9% in July from an unrevised 75.4% the previous month.

Economists polled by Thomson Reuters projected a 0.3% gain for industrial production and a 75.6% capacity utilization rate.

Manufacturing output was up 0.5% in July, following a 0.3% rise in June.

Utilities' output rose 2.1% after increasing 2.1% in June, while mining was up 0.7% after a 0.3% drop the month before.


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