US industrial production strengthens | General News

Industrial production in the US increased by 0.8 percent on a monthly basis in August, above market expectations.

The US Federal Reserve (Fed) announced industrial production and capacity utilization data for August.

Accordingly, industrial production in the country increased by 0.8 percent in August compared to the previous month.

Market expectations were for industrial production to increase by 0.2 percent in this period. Industrial production had decreased by 0.9 percent in July.

Manufacturing industry production also increased by 0.9 percent on a monthly basis in August.

Manufacturing industry production decreased by 0.7 percent in July.

The capacity utilization rate in the country increased by 0.6 points to 78 percent in the same period.

The capacity utilization rate was expected to be 77.9 percent during this period. The capacity utilization rate was recorded as 77.4 percent in July.

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