US industrial production decreases 0.2% in August

US industrial production decreased 0.2% month-on-month in August, according to the Federal Reserve, missing market expectations for a 0.1% increase.

Manufacturing output ticked up 0.1%, down from a 0.6% rise in July, with the index for durable manufacturing unchanged, the index for non-durable manufacturing up 0.2%, and the index for other manufacturing dipping 0.1%.

The index for mining was unchanged, while the index for utilities decreased by 2.3%.

Capacity utilisation declined 0.2% in August to 80.0% - 0.4% above its long-run average.

At 104.5% of its 2017 average, total industrial production in August was 3.7% above its year-earlier level.

Reporting by Iain Gilbert at Sharecast.com