July industrial production misses expectations
Industrial production grew 0.1% in July, the Federal Reserve reported Wednesday.
The increase followed a revised 1.0% rise in June, first reported as a 0.6% gain.
Capacity utilization held at 78.1% in July after June’s 78.0% was revised up a tick.
Economists polled by IFR Markets projected a 0.3% increase for industrial production and a 78.2% capacity utilization rate.
Manufacturing output was up 0.3% in July, following an unrevised 0.8% gain in June.
Utilities’ output fell 0.5% after decreasing 0.7% in June, while mining was 0.3% lower after a 2.9% increase the month before.