WASHINGTON - Industrial production rose 0.2% in August, in line with economists’ expectations, the Federal Reserve Board reported today.
Industrial capacity utilization increased to 74.7% from 74.6%, up 4.7 percentage points from a year earlier.
Economists expected industrial production would rise 0.2% for the month and that capacity utilization would increase to 75.0%, according to the median estimate from Thomson Reuters.
Industrial production for July was revised lower to a 0.6% increase from a 1.0% jump reported last month.
Manufacturing output rose 0.2% in August following a 0.7% advance in July. Motor vehicle and parts production increased sharply in July and fell back in August, contributing to the slower manufacturing growth, the Fed said. Excluding auto production, manufacturing output increased 0.5% in August.
Utility output fell 1.5% for the month after a 0.3% decline in July.
