U.S. industrial production increased by 0.2% in July compared to the previous month, according to the latest production index issued by the Federal Reserve.
The Fed’s July industrial production index came in at 103%, which was also 1.1% higher than the level last July. Manufacturing production — one of three industry groups in the industrial production report — increased by 0.2% over June, as well.
Durable goods production increased by 0.7%, and Fed analysts noted that most of those categories saw expansion of more than 1%; only two — nonmetallic mineral products and motor vehicles and parts — declined. When excluding the 2.1% dip in motor vehicles, manufacturing output was up 0.4%.
The indexes for industrial and other equipment and construction supplies each rose by 0.8%.
The Fed report found capacity utilization of 76.3%, which edged up by 0.1% over the June level.
