Industrial production was unchanged in July after having gained 0.2 percent in June, according to the Federal Reserve. Manufacturing production declined 0.1 percent.
The output of mines advanced 2.1 percent, its fourth consecutive monthly increase, and the production of utilities fell 2.1 percent, its fourth consecutive monthly decrease. At 98.9 percent of its 2007 average, total industrial production in July was 1.4 percent above its year-earlier level.
Capacity utilization for total industry edged down 0.1 percentage point to 77.6 percent in July, 0.3 percentage point below its year-earlier level and 2.6 percentage points below its long-run (1972-2012) average.
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