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- U.S. industrial output rises more than forecast in August
U.S. industrial output rises more than forecast in August
The Federal
Reserve reported on Tuesday that the U.S. industrial production rose 0.6 m-o-m
in August, following a revised 0.1 percent m-o-m drop in July (originally a 0.2
percent m-o-m decrease).
Economists had
forecast industrial production would increase 0.2 percent m-o-m in August.
According to
the report, the manufacturing production rose 0.5 percent m-o-m, more than
reversing a 0.4 percent m-o-m decline in July. Meanwhile, the indexes for
utilities and mining went up 0.6 percent m-o-m and 1.4 percent m-o-m,
respectively.
Capacity
utilization for the industrial sector increased 0.4 percentage point m-o-m in August
to 77.9 percent. That was 0.3 percentage point above economists’ forecast but 1.9
percentage points below its long-run (1972-2018) average.
In y-o-y terms,
the industrial output rose 0.4 percent in August, following an unrevised 0.5 percent
advance in the prior month.
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