Washington, DC, August 17--Output of the nation's factories, mines and utilities rose in July, but June's losses were revised downward, offsetting any gains to the level of production, the Federal Reserve said Tuesday.
Industrial output rose 0.4 percent last month to 116.2 on the Fed's index, a level just below the pre-recession peak of 116.4 recorded in June 2000.
Capacity utilization rose to 77.1 percent in July from 76.9 percent in June, revised downward from last month's initial estimate of 77.2 percent.
Economists had been expecting industrial production to rise 0.5 percent and capacity utilization to reach 77.5 percent, according to a survey conducted by CBS MarketWatch.
Industrial output in June was revised to a 0.5 percent decrease after an initial estimate of a 0.3 percent.
Manufacturing output rose 0.6 percent in July after declining 0.2 percent rise in June. Output at the nation's utilities fell 2 percent in July after sinking by 2.6 percent in the prior month.
U.S. mining production rose 1.2 percent in July after falling 0.8 percent in June. Production of consumer goods rose 0.2 percent last month after falling 1.2 percent in June.
Production of business equipment rose 1.5 percent in July after rising 0.4 percent in the prior month.
Motor vehicle production fell 0.7 percent in July, the third consecutive monthly decline. Output of high-technology industries rose 2.5 percent in July after increasing by 2.2 percent in June.
