Washington, September 15-- Industrial output rose less than expected in August amid sharp declines in utilities and mining output, the Federal Reserve said Wednesday.
Industrial production rose 0.1% last month, continuing at a slower pace July's recovery from a late-second-quarter dip. The Fed revised upward its estimate of July industrial production growth to 0.6% from the previously reported 0.4%. The June figure was also revised up slightly to a 0.4% decline from the previously reported 0.5% dip.
August industrial capacity utilization at 77.3% was unchanged from July's revised level, which was originally reported at 77.1%. June industrial capacity use was unrevised at 76.9%.
Economists surveyed by Dow Jones Newswires and CNBC had called for August industrial production to rise 0.5% and for capacity use to notch up 0.3 percentage points to 77.4%.
Utilities output registered a sharp decline amid cool late-summer temperatures in many parts of the country, while manufacturing activity grew more than the overall production index.
August manufacturing production rose 0.5% after a revised 0.9% rise in July, originally reported as a 0.6% increase. August manufacturing capacity use came in at 76.8%, up from July's revised level of 76.6%, originally reported as 76.3%, and June's 76.0%.
