Industrial Production Fell 0.2% in July
Washington, DC, August 15, 2019-Industrial production declined 0.2 percent in July, according to the Federal Reserve.
Manufacturing output decreased 0.4% last month and has fallen more than 1% to ½% since December 2018.
In July, mining output fell 1.8%, as Hurricane Barry caused a sharp but temporary decline in oil extraction in the Gulf of Mexico. The index for utilities rose 3.1%. At 109.2% of its 2012 average, total industrial production was 0.5% higher in July than it was a year earlier. Capacity utilization for the industrial sector decreased 0.3 percentage point in July to 77.5%, a rate that is 2.3 percentage points below its long-run (1972–2018) average.