The 2020 Mid-Year Economic Update_long

Industrial Production Rises 0.2% in August

Industrial production rose 0.2 percent in August after an increase of 0.5 percent in July. At 114.4 percent of its 2002 average, total industrial production in August was 1.7 percent above its year-earlier level.
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Manufacturing output fell 0.3 percent in August after five consecutive months of increases, mining output dropped 0.6 percent, but unusually hot weather contributed to an increase of 5.3 percent in the output of utilities.
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Capacity utilization for total industry was unchanged, at 82.2 percent, a rate 0.2 percentage point below its level in August 2006 but 1.2 percentage points above its 1972-2006 average.
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Market Groups
The production of consumer goods edged up 0.1 percent in August.
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The production of ...

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The output of utilities jumped 5.3 percent in August. Electric utility output increased 6.3 percent, whereas the output of natural gas utilities was unchanged. The operating rate at utilities rose to 87.9 percent, a rate 1.2 percentage points above its 1972-2006 average.
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The output of mines fell 0.6 percent, and the capacity utilization rate for mining fell 0.6 percentage point, to 90.2 percent, a rate 2.8 percentage points above its long-run average.
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In August, capacity utilization for industries in the crude stage moved down 0.3 percentage point, to 89.6 percent. For industries in the primary and semifinished stages, capacity utilization advanced 0.6 percentage point, to 83.1 percent; for industries in the finished stage, capacity utilization fell 0.4 percentage point, to 78.8 percent.Industrial production rose 0.2 percent in August after an increase of 0.5 percent in July. At 114.4 percent of its 2002 average, total industrial production in August was 1.7 percent above its year-earlier level.
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Manufacturing output fell 0.3 percent in August after five consecutive months of increases, mining output dropped 0.6 percent, but unusually hot weather contributed to an increase of 5.3 percent in the output of utilities.
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Capacity utilization for total industry was unchanged, at 82.2 percent, a rate 0.2 percentage point below its level in August 2006 but 1.2 percentage points above its 1972-2006 average.
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Market Groups
The production of consumer goods edged up 0.1 percent in August.
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The production of durable consumer goods decreased 1.0 percent; the drop was due mainly to a reduction of 2.1 percent in the output of automotive products. Elsewhere, the output of home electronics declined 0.2 percent; the output of appliances, furniture, and carpeting fell 0.6 percent; but the index for miscellaneous durable goods rose 0.2 percent.
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The production of nondurable non-energy consumer goods fell 0.3 percent; decreases in the production of foods and tobacco, of clothing, and of paper products more than offset an increase in the production of consumer chemical products. Boosted by residential sales of electricity, the index for consumer energy goods rose 3.5 percent.
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The index for business equipment fell 0.2 percent in August. The output of transit equipment declined 0.2 percent, as a reduction in motor vehicle assemblies more than offset an increase in the production of civilian aircraft. The index for industrial and other equipment decreased 0.6 percent; although farm machinery increased for the second month in a row, other machinery categories registered declines. The production of defense and space equipment fell 0.6 percent.
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The index for construction supplies stayed flat in August. The index for business supplies rose 1.0 percent as a result of an increase in the commercial sales of electricity; the output of non-energy business supplies was unchanged.
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The production of materials rose 0.2 percent in August. Within non-energy materials, the index for durable materials fell 0.2 percent, and the index for nondurable materials fell 0.1 percent. The decrease in durable materials reflected reduced output of motor vehicle parts as well as decreases in a variety of equipment parts. Among nondurable materials, declines in the output of textiles and of chemicals more than offset an increase in the production of paper. The output of energy materials climbed 1.5 percent.
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Industry Groups
Manufacturing output fell 0.3 percent in August, as production of both durable and nondurable goods decreased. The factory operating rate for manufacturing declined 0.3 percentage point in August, to 80.7 percent, a rate about 1 percentage point above its 1972-2006 average.
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The production of durable goods fell 0.3 percent. Decreases were recorded in wood products; machinery; electrical equipment, appliances, and components; motor vehicles and parts; furniture and related products; and miscellaneous manufacturing, whereas increases were registered in nonmetallic mineral products; primary metals; fabricated metal products; computer and electronic products; and aerospace and miscellaneous transportation equipment.
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The production of nondurable goods moved down 0.2 percent. Declines in the indexes for food, beverage, and tobacco products; for textile and product mills; for apparel and leather; for petroleum and coal products; and for plastics and rubber products more than offset gains in paper, printing and support, and chemical products. The output of the non-NAICS manufacturing industries (logging and publishing) fell 0.3 percent.
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