For ads-free news, click here.
In July 2024, the United States experienced a significant decline in industrial production, falling by 0.6% from the previous month—double the expected 0.3% decrease.
Manufacturing production also dropped by 0.3%, slightly more than the anticipated 0.2% decline. Additionally, capacity utilization decreased to 77.8%, missing the forecasted 78.5%.
This downturn reflects a broader slowdown in the industrial sector, raising concerns among financial analysts and economists about the potential impact on the broader economy. The unexpected depth of these declines has prompted discussions about underlying challenges in the U.S. manufacturing landscape.
More details below:
Industrial Production -0.6%, Exp. -0.3%, Last revised down to 0.3%
Manufacturing Production -0.3%, Exp. 0.3%, Last revised down to 0.0%
— zerohedge (@zerohedge) August 15, 2024
July Industrial Production -0.6% vs -0.3% Expected
— Wall St Engine (@wallstengine) August 15, 2024
Drop in factory production was about auto output. Excluding autos, manufacturing output would have increased 0.3%, up 5% SAAR over the last three months. pic.twitter.com/DzPe5qPhb9
— RenMac: Renaissance Macro Research (@RenMacLLC) August 15, 2024
