US industrial output flat in August as capacity utilisation holds steady.
US industrial production was flat in August, according to the Federal Reserve, as a dip in manufacturing offset modest gains elsewhere.
Source: Sharecast
Total output held steady after a 0.2% increase in July, leaving production 1.4% higher than a year earlier. Manufacturing output fell 0.3%, ending a seven‑month run of gains, while mining edged up 0.1% and utilities rose 1.8%.
Capacity utilisation was unchanged at 76.3%, around three percentage points below its long‑run average.
Across market groups, consumer‑goods output inched up 0.1%, supported by non-durable goods, while business equipment and defence and space equipment declined 0.5% and 1.2%, respectively. Construction supplies fell 0.7%, business supplies ticked up 0.1%, and materials output increased 0.2%, driven by stronger energy production.
Within manufacturing, durable‑goods output dropped 0.5% amid broad‑based weakness, while non-durables were unchanged. Other manufacturing, including publishing and logging, rose 1%.
Capacity utilisation in manufacturing slipped to 75.7%, while mining edged up to 86.3% and utilities climbed to 71.3%.
Reporting by Iain Gilbert at Sharecast.com
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