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US Industrial production declined larger than expected in August |
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FXstreet.com (Barcelona) – Industrial production has dropped well beyond the experts expectations in August, while capacity utilization fell a whole percentage point on the month, according to data released by the Federal Reserve.
In August, industrial production posted a 1.1% decline, while July’s increase has been revised down to 0.1%, from the 0.2% previously estimated. August’s decline has surpassed the experts’ expectations of a 0.2% fall.
Production of vehicles and parts has posted a 11.9% monthly decline, while excluding vehicles, industrial production has decreased 0.3%. Output of mines declined 0.4%, and output of utilities has dropped 3.2%.
Capacity utilization has dropped 1.0% to a level of 78.7%, 1.0% below the level posted in July, and 2.3% below the average level, from 1972 to 2007.
Posted originally: 9/15/2008 1:28:00 PM
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