JULY INDUSTRIAL PRODUCTION UP 0.2%, CAPACITY UTILIZATION 79.9%
Industrial production rose 0.2% in July, beating analysts’ expectations of an unchanged reading. That followed a downwardly revised 0.4% rise in June.
Consumer goods production was up 0.3% on the back of 1% growth in durable goods output. Automotive products was up 2.5%.
Business equipment output edged up 0.8% in July, while construction supplies rose 0.3% but were down 5.3% on a y-o-y basis.
In the manufacturing sector, overall output was up 0.4%, with primary metals output up 0.8%. Motor vehicles and parts production was 3.6% higher. Petroleum and coal products output rose 1.9%.
Utilities output fell 1.9% after a 2.1% increase in June. Mining output was up 0.9%, matching the prior month’s gain.
On a y-o-y basis, industrial production is down 0.1% from Jul-07.
Meanwhile, capacity utilization rose to 79.9% from June’s downwardly revised 79.8% (previously reported as 79.9%. Crude capacity utilization rose up to 90.1% from 89.7% in June, while mining capacity use also rose. Utility capacity use fell to 84.4% from 86.2% prior.