U.S. industrial output grew by 0.6% in August – Forex
Statistics on industrial production in the United States, published by the Fed, showed positive dynamics in August. Industrial output increased by 0.6% compared to the corresponding month a year earlier. At the same time, it decreased by 0.1% in July. Nearly three-quarters of U.S. industrial production is in manufacturing. In the reporting month, its volume grew by 0.5% after the July fall of 0.4%. The indicator significantly exceeded the forecast of analysts. They had expected manufacturing growth of only 0.2%. The indicator assessing the degree of use of production capacity also increased in August. It was 77.9% against 77.5% in July. Production in the extractive industry increased by 1.4%. In July, it fell by 1.5%. But U.S. car production fell 1 percent in August. Such a sharp drop in car production has not been observed in the country in the last four months.