Industrial Production In The US In August Increased By 0.4% Compared To July
The volume of industrial production in the United States in August rose by 0.4% from the previous month after rising in July by a revised 3.5%, according to the Federal Reserve.
Analysts polled by Reuters had expected a stronger increase of 1%.
Last month's figure was revised up, from 3% growth to 3.5%.
Thus, the growth of industrial production in the US is marked for the fourth month in a row after a record falls in April by 12.9%.
Industrial capacity utilization in the US rose to 71.4% in August from July's 71.1% level, which is still 8.4 percentage points less than the long-term average. The indicator coincided with analysts' forecasts.
The US industrial production index for the reporting month is published by the fed Board of governors in the middle of each subsequent month. This indicator is one of the key indicators for the economy. It reflects the physical volume of products produced by American companies (including mining and utilities), broken down by market and category.