8/15, 3:15 PM (Source: TeleTrader)
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US industrial production down 0.2% in July

Industrial production in the United States decreased by 0.2% in July compared to the previous month, according to data released by the Federal Reserve on Thursday. On an annual basis, total industrial production climbed by 0.5% compared to July 2018.

Manufacturing output fell 0.4% month on month and mining dropped 1.8% on a monthly basis as a result of a sharp temporary drop in oil extraction in the Gulf of Mexico due to Hurricane Barry. Meanwhile, the decline was somewhat offset by a rise of 3.1% in the index for utilities.

The capacity utilization in the industrial sector in July stood at 77.5%, down by 0.3 percentage points month on month and was 2.3 percentage points below its long-run average.

Breaking the News / NP