US industrial production falls 0.6% in July, worse than expected

The Federal Reserve said Thursday that U.S. industrial production fell 0.6% from the previous month in July, a worse figure than economists had expected.

The June figure was revised downwards from 0.6% to 0.3%.
A Reuters poll of analysts had forecast the figure would fall 0.3 percent in July.

Factory capacity utilization fell to 77.8%​. June’s capacity utilization figure was revised downwards from 78.8% to 78.4%.

Reuters had forecast utilization at 78.5%.
Manufacturing output — a portion of industrial production that focuses on transforming raw materials into finished products — fell 0.3 percent, after June’s figure was revised down to 0.0 percent from 0.4 percent, according to the report released Thursday.

A Reuters poll had predicted manufacturing output would fall 0.2 percent in July.

Connect with the Voice of America! Subscribe to our channels YouTube, WhatsApp and the newsletter. Activate notifications and follow us on Facebook, X and Instagram.