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Aug Industrial Production Below Expected +0.4%; Motor Veh Mfg -3.7%

US DATA

Industrial production in August rose 0.4% vs 1.0% expected while July's gain was revised five-tenths higher to 3.5%.

  • August capacity utilization +0.3pp to 71.4%, as expected
  • Even after four months of gains, IP is 7.3% below the February level
  • Manufacturing output rose 1.0% in August but gains have slowed since June; motor vehicles and parts -3.7%
  • Mining -2.5% as storms caused sharp drops in oil and gas drilling
  • Utilities -0.4%
MNI Washington Bureau | +1 202-371-2121 | jean.yung@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | jean.yung@marketnews.com

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