Keeping you up to date on the latest data releases.
- Industrial Production
Industrial production increased at an annualized rate of 1.9 percent in August after a downwardly revised 7.8 percent gain in July (revised down from a 12.3 percent increase). Manufacturing output rose modestly during the month, up 2.6 percent compared to an 8.9 percent gain in July. The short-term (3-month annualized) growth rate in manufacturing production edged down to 2.3 percent in August, it’s slowest growth rate since last June and tentative evidence that the inventory cycle is abating. Outside manufacturing, mining output jumped up 15.6 percent in August, following an 11.4 percent increase in July. Also, utilities output fell 17.1 percent during the month, though is still up 6.0 percent over the past year. Capacity utilization edged up slightly, rising from 74.6 percent to 74.7 percent in August.