Industrial production fell 0.6% in July after increasing 0.3% in June. Early July shutdowns concentrated in the petrochemical and related industries due to Hurricane Beryl held down the growth of industrial production by an estimated 0.3 percentage point.
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Manufacturing output stepped down 0.3% as the index for motor vehicles and parts fell nearly 8%; manufacturing excluding motor vehicles and parts rose 0.3%.
The index for mining moved sideways while the index for utilities decreased 3.7%.
At 102.9% of its 2017 average, total industrial production in July was 0.2% below its year-earlier level. Capacity utilization moved down to 77.8% in July, a rate that is 1.9 percentage points below its long-run (1972–2023) average.
