Total industrial production increased 0.4% month-over-month in August (consensus 0.2%) following a downwardly revised 0.7% increase (from 1.0%) in July.
The capacity utilization rate jumped to 79.7% (consensus 79.3%) from an upwardly revised 79.5% (from 79.3%) in July.
Total industrial production was up 0.2% yr/yr.
The capacity utilization rate of 79.7% was in-line with its long-run average.
The key takeaway from the report is that motor vehicle assemblies were weak in front of what is now a UAW strike, so the outlook for industrial production in September will be constrained by an expected disruption to auto manufacturing capabilities as a result of the strike.
- This reply was modified 1 week ago by Truman.