American Manufacturing Sector Graphic Concept. (Photo: AdobeStock)
Industrial production rose by 0.4% in July, matching the consensus forecast and posting gains for three consecutive months. Manufacturing production rose 0.2% after a 0.3% gain the month before, missing the 0.3% consensus forecast.
However, the manufacturing gain was fueled by gains in motor vehicles and parts; motor vehicle assemblies show up to an annual rate of 11.5 million units, the strongest reading since April.
Excluding the motor vehicles and parts, factory output was unchanged.
Still, mining and utilities were stronger.
The output of utilities rose 1.2% after decling by percent, and, after posting five consecutive months of growth. The mining production rose 0.7% and hasn’t posted a decline since last January.
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 rose in August to 78.1%, a rate that is 1.7 percentage points below its long-run (1972–2017) average and 0.2% below the median forecast.
The most damning journalistic sin committed by the media during the era of Russia collusion…
The first ecological study finds mask mandates were not effective at slowing the spread of…
On "What Are the Odds?" Monday, Robert Barnes and Rich Baris note how big tech…
On "What Are the Odds?" Monday, Robert Barnes and Rich Baris discuss why America First…
Personal income fell $1,516.6 billion (7.1%) in February, roughly the consensus forecast, while consumer spending…
Research finds those previously infected by or vaccinated against SARS-CoV-2 are not at risk of…
This website uses cookies.