Keeping you up to date on the latest data releases.
- Industrial Production
Industrial production increased 0.6 percent (nonannualized) in July, following two consecutive monthly increases of 0.1 percent. The near term trend (three month annualized growth) of 3.3 percent is down from 6.0 percent in the first quarter. On a year-over-year basis, overall production is up 4.4 percent. Manufacturing production rose 0.5 percent in July while the three month annualized growth rate increased 1.7 percent, down from 9.6 percent in the first quarter. Breaking down the manufacturing sector, durable and nondurable goods rose 0.9 percent and 0.1 percent, respectively. Within durable goods manufacturing, primary metals, computer and electronic products, motor vehicles and parts, aerospace and miscellaneous transportation equipment and miscellaneous manufacturing all posted increases greater than 1.0 percent in July. Mining output rose 1.2 percent, after having increased 0.5 percent in June. Overall capacity utilization increased 0.4 percentage points to 79.3 percent of capacity, still 1.0 percentage points below its historic average.