Industrial production rose 0.2% in August

Source: Board of Governors of the Federal Reserve System

Oct 13, 2010

Industrial production rose 0.2% in August after a downwardly revised increase of 0.6% in July. The downward revision in July primarily resulted from newly available data on the output of four industries within manufacturing: iron and steel, construction machinery, paper, and pharmaceuticals. The index for manufacturing output rose 0.2% in August after having advanced 0.7% in July; the step-down in the rate of increase reflected a fallback in the production of motor vehicles and parts, which had jumped sharply in July. Excluding motor vehicles and parts, manufacturing output increased 0.5% in August after having gained 0.2% in July. Production at mines moved up 1.2% in August, while the output of utilities moved down 1.5%. At 93.2% of its 2007 average, total industrial production in August was 6.2% above its year-earlier level. The capacity utilization rate for total industry rose to 74.7%, a rate 4.7 percentage points above the rate from a year earlier and 5.9 percentage points below its average from 1972 to 2009.