Total industrial production increased by 0.6% in July, according to the Federal Reserve. Manufacturing rose 0.7% after having fallen 0.4% in each of the two prior months.
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The index for utilities decreased by 0.8%, while the index for mining increased for the third consecutive month and rose by 0.7%. Capacity utilization grew 0.4% to 80.3%, a 0.7% increase from its long-run average between 1972-2021.
Ian Heller is the Founder and Chief Strategist for Distribution Strategy Group. He has more than 30 years of experience executing marketing and e-business strategy in the wholesale distribution industry, starting as a truck unloader at a Grainger branch while in college. He’s since held executive roles at GE Capital, Corporate Express, Newark Electronics and HD Supply. Ian has written and spoken extensively on the impact of digital disruption on distributors, and would love to start that conversation with you, your team or group. Reach out today at iheller@distributionstrategy.com.