Industrial production increased 0.2% in July after having advanced 0.4% in June. Manufacturing output gained 0.4% in July and was boosted by a rise of 3.6% in the production of motor vehicles and parts. Excluding motor vehicles and parts, the index for manufacturing increased 0.2%.
The output of mines moved up 0.9%, while the output of utilities contracted 1.9%. At 111.8% of its 2002 average, total industrial production was 0.1% below its level of a year earlier. In July, the capacity utilization rate for total industry edged up to 79.9%, a level 1.1 percentage points below its average for 1972-2007.
Daniel J. Meckstroth, Ph.D., chief economist for the Manufacturers Alliance/MAPI, said: The modest spike of growth occurred as manufacturers adjusted production …
Industrial Production Up 0.2% in July
Industrial production increased 0.2% in July after having advanced 0.4% in June. Manufacturing output gained 0.4% in July and was boosted by a rise of 3.6% in the production of motor vehicles and parts. Excluding motor vehicles and parts, the index for manufacturing increased 0.2%.
The output of mines moved up 0.9%, while the output of utilities contracted 1.9%. At 111.8% of its 2002 average, total industrial production was 0.1% below its level of a year earlier. In July, the capacity utilization rate for total industry edged up to 79.9%, a level 1.1 percentage points below its average for 1972-2007.
Daniel J. Meckstroth, Ph.D., chief economist for the Manufacturers Alliance/MAPI, said: The modest spike of growth occurred as manufacturers adjusted production …
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