US industrial production falls 0.2% in August

By Ovunc Kutlu

ANKARA (AA) - Despite market estimates of an increase, US industrial production dropped 0.2% in August, according to data released by the Federal Reserve on Thursday.

The market expectation was a gain of 0.1% after a 0.5% rise in July.

Manufacturing output, on the other hand, increased 0.1%, in line with market expectations. It was up 0.6% in July.

Capacity utilization, which indicates overall growth and demand in the economy, declined by 0.2 percentage points to 80.0% in August, also below market expectations of 80.3%.

The figure stood at 80.2% in July.​​​​​​​