US industrial production in Aug up 0.4%; manufacturing output up 0.1%

At 103.5 per cent of its 2017 average, total industrial production in August was 0.2 per cent above its year-earlier level. Capacity utilisation moved up to 79.7 per cent in the month, in line with its long-run (1972–2022) average.

Most major market groups, except motor vehicles and parts, posted increases in August. The index for consumer non-durables moved up by 0.4 per cent, and the index for materials advanced by 0.7 per cent, a Fed release said.

Manufacturing output rose by 0.1 per cent in August for its second consecutive monthly gain, but was 0.6 per cent below its year-earlier level.

The index for durable manufacturing edged up 0.1 per cent in the month, and the index for non-durable manufacturing increased by 0.2 per cent.

Capacity utilisation for manufacturing remained at 77.9 per cent in August—0.3 percentage point below its long-run (1972–2022) average.

ALCHEMPro News Desk (DS)