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US industrial production down by 0.1% in July
Industrial production in the United States fell by 0.1% in July compared to June, according to a report by the Federal Reserve Board of Governors on Friday. Manufacturing stayed stable month-on-month, while the mining and utilities output decreased by 0.4% and 0.2% respectively. Compared to July 2024, industrial production increased by 1.4%. Manufacturing also gained 1.4%, mining improved by 1.9% and utilities rose by 0.8%. Capacity utilization stood at 77.5% in July, 2.1 percentage points below its long-run average and 1.5% higher than a year ago.
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