Industrial production was up 0.2% in July, the Federal Reserve reported Thursday.

The increase followed an unrevised 0.4% gain in June.

Capacity utilization held at 76.7% in July, unchanged from June’s revised figure, first reported as 76.6%.

Economists polled by IFR Markets projected a 0.3% increase for industrial production and a 76.7% capacity utilization rate.

Manufacturing output dipped 0.1% in July, following a 0.2% gain in June.

Utilities’ output was up 1.6% after decreasing 1.2% in June, while mining was up 0.5% after a 2.0% gain the month before.

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Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.