US vehicle production “surges”; industrial output beats estimates in July

16 August 2022

 

Summary: US industrial output up 0.6% in July, double market expectations; up 3.9% over past 12 months; vehicle production “surges” as bottlenecks ease; capacity utilisation rate up 0.4ppts to 80.3%, just above long-term average. 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 and so some...

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