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Monday, June 17, 2019
HomeNewsEconomyIndustrial Production Edges 0.1% Higher in July, 12-Month Gain Hits 4.2%

Industrial Production Edges 0.1% Higher in July, 12-Month Gain Hits 4.2%

American Manufacturing Sector Graphic Concept. (Photo: AdobeStock)
American Manufacturing Sector Graphic Concept. (Photo: AdobeStock)

American Manufacturing Sector Graphic Concept. (Photo: AdobeStock)

Industrial production edged higher by 0.1% in July, missing the 0.3% consensus forecast and 0.5% average over the last 5 months. Manufacturing production rose 0.3% after a slight dip two months before, matching the consensus forecast.

The output of utilities moved down 0.5 percent, and, after posting five consecutive months of growth, the index for mining declined 0.3 percent. At 108.0% of its 2012 average, total industrial production was 4.2% higher in July than it was a year earlier.

Capacity utilization for the industrial sector was unchanged in July at 78.1%. That’s 1.7% below its long-run (1972–2017) average and 0.1% below the median forecast.

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PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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