Keeping you up to date on the latest data releases.
- Industrial Production
Industrial production was unchanged (nonannualized) in July, following an increase of 0.2 percent in June. The near-term trend (three-month annualized growth) of 1.1percent is down from 4.0 percent in the first quarter. On a year-over-year basis, overall production is up 1.3 percent (its lowest level since the recession). Manufacturing production fell 0.1 percent in July while the three-month annualized growth rate increased 1.3 percent, down from 4.9 percent in the first quarter. Breaking down the manufacturing sector, durable and nondurable goods declined 0.2 percent and 0.1 percent, respectively. Within durable goods manufacturing, 8 of the 11 subsectors posted no change or declined for the month; Primary metals posted the only noteworthy growth, increasing 2.6 percent. Mining output rose 2.0 percent, after having increased 1.0 percent in June. Overall capacity utilization fell 0.1 percentage points to 77.6 percent of capacity, still 2.6 percentage points below its historic average.