August industrial prod dropped to -0.9% vs..>

US DATA: August industrial prod dropped to -0.9% vs +0.1% expected, 

largely due to Hurricane Harvey's impact on the output of oil, natural 

gas, and other downstream indsutries. IP saw most categories down, with 

materials -1.1%, utilities -5.5%, mining -0.8%, manufacturing -0.3%, and 

business equipment -0.4%. IP ex motor veh -1.1%. July IP revised up 

to +0.4% from +0.2%. Mfg excl. motor veh & parts -0.5%; but motor veh & 

parts +2.2%. Durables mfg +0.3% with categories generally mixed, 

declines in nonmetalic mineral products and machinery were offset by 

gains in motor vehicles and parts. Nondurable mfg fell to -0.9%, dragged 

down by apparel and leather, petroleum and coal products, chemicals, and 

plastics and rubber products. Capacity utilization decreased to 76.1% vs 

76.8% expected. July capacity util revised up 0.2pp to 76.9%. Mfg cap 

util -0.3pp to 75.3%.