Industrial production rose in August

Sept. 16, 2013 at 11:20 AM
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WASHINGTON, Sept. 16 (UPI) -- Industrial production rose 0.4 percent in August after posting no change in July, the U.S. Federal Reserve said Monday.

Manufacturing output in August rose by 0.7 percent. Production at mines rose 0.3 percent, posting a fifth consecutive monthly increase. Output at utility companies fell 1.5 percent, as utilities posted a fifth consecutive decline, the central bank said.

Total production in August was at 99.4 percent of its 2007 average and 2.7 percent above the level of August 2012, the Fed said.

The rate of capacity utilization among industrial firms -- the percentage of production compared to companies going at full steam -- edged 0.2 percentage points higher to 77.8 percent in August.

That rate is 2.4 percentage points below its historic average, using data from 1972 through 2012.

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