Industrial Production Increased 3.0 Percent in July; Still 8.4% Below Pre-Crisis Level

From the Fed: Industrial Production and Capacity Utilization Total industrial production rose 3.0 percent in July after increasing 5.7 percent in June; even so, the index in July was 8.4 percent below its pre-pandemic February level. Manufacturing output continued to improve in July, rising 3.4 percent. Most major industries posted increases, though they were much smaller in magnitude than the advances recorded in June. The largest gain in July-28.3 percent-was registered by motor vehicles and parts; factory production elsewhere advanced 1.6 percent. Mining production rose 0.8 percent after......(read more)

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