Industrial Production (IP) increased 0.6 percent in July after having risen 0.1 percent in both May and June.
In July, manufacturing output increased 0.5 percent and was 5.0 percent above its year-earlier level. The factory operating rate moved up 0.2 percentage point in July to 77.8 percent, a level 1.0 percentage point below its long-run average.
Capacity utilization for total industry moved up 0.4 percentage point to 79.3 percent, a rate 1.0 percentage point below its long-run (1972–2011) average.
Revisions to the rates of change for recent months left the level of the IP index in June little changed from its previous estimate. Manufacturing output rose 0.5 percent in July, the same rate of increase as was recorded for June.
At 98.0 percent of its 2007 average, total industrial production in July was 4.4 percent above its year-earlier level.
The production index for durable goods increased 0.8 percent in July.
Gains of more than 1 percent were recorded in
- Primary metals,
- Computer and electronic products,
- Motor vehicles and parts,
- Aerospace and miscellaneous transportation equipment,
- Miscellaneous manufacturing.
Manufacturing is up 5 % from July 2011 to July 2012.
Manufacturing continues to be a strength of the U.S. Economy. The U.S. manufactures more than Brazil, Russia, India, and China combined. If U.S. Manufacturing was a country, it would be the sixth largest in the world.
