Industrial Production Inched Upward in July

Washington, DC, August 17, 2017-Industrial production rose 0.2% in July following an increase of 0.4% in June.

In July, manufacturing output edged down 0.1%; the production of motor vehicles and parts fell substantially, but that decrease was mostly offset by a net gain of 0.2% for other manufacturing industries.

Following a six-month string of increases beginning in September 2016, factory output was little changed, on net, between February and July. The indexes for mining and utilities in July rose 0.5% and 1.6%, respectively. At 105.5% of its 2012 average, total industrial production was 2.2% above its year-earlier level. Capacity utilization for the industrial sector was unchanged in July at 76.7%, a rate that is 3.2 percentage points below its long-run (1972–2016) average.