Industrial production in the United States unexpectedly increases
In a surprising turn of events, the U.S. central bank, the Fed, announced a production increase of 0.1 percent on Tuesday in Washington, contrary to economists' expectations of a decline. However, this production boost was smaller than the previously reported decrease in July.
Initially, a decline of 0.1 percent in production was reported for July. But, recent revisions show that the actual decrease was larger, with production decreasing by 0.4 percent in July, according to revised data.
Despite this production fluctuation, the capacity utilization rate of industrial companies remained stable at 77.4 percent, as of the latest data. This is in line with economists' expectations and was not affected by the production increase announced by the Fed.
Interestingly, the capacity utilization rate of industrial companies did not change from its previous level of 77.4 percent, even in the face of the revised production data for July. The capacity utilization rate was also not affected by the economists' expectations of a production decline.
Prior to the Fed's announcement, the US industrial production in the month before was revised to have decreased by only 0.1 percent compared to the previous month. This revision indicates a smaller decline than initially reported.
In summary, while the production figures have shown some volatility, the capacity utilization rate of industrial companies has remained steady, providing a stable foundation for the industrial sector.
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