U.S. posts weak industrial production hike

WASHINGTON, Aug. 16 (UPI) -- U.S. industrial production increased 0.4 percent in July after a gain of 0.8 percent in June, the Federal Reserve said Wednesday.

Analysts had expected a 0.6-percent gain.

Manufacturing output increased 0.1 percent in July; excluding motor vehicles and parts, manufacturing production rose 0.7 percent. With temperatures well above normal during July, the output of utilities rose 2.0 percent. Production at mines climbed 0.8 percent.

Industry's capacity utilization rose to 82.4 percent in July; the utilization rate was 2.2 percentage points above its level in July 2005 and 1.4 percentage points above its 1972-2005 average.