Summary: US industrial output down 0.6% in July, contrasts with expected flat result; down 0.2% over past 12 months; Barclays: underlying trajectory “roughly sideways”; US Treasury yields up; rate-cut expectations soften; capacity utilisation rate falls to 77.8%. The Federal Reserve’s industrial production (IP) index measures real output from manufacturing, mining, electricity and gas company facilities located in the United States. These sectors are thought to be sensitive to consumer demand...