USA: industrial production rebounds sharply in August

(CercleFinance.com) - Following a sequential decline of 0.
9% the previous month, US industrial production rebounded by 0.8% in August, thanks in part to a strong rebound in the production of motor vehicles and equipment.

The latter rose by almost 10% last month after a fall of around 9% in July, and excluding the automotive sector, manufacturing output rose by just 0.3% month-on-month.

Still according to the Federal Reserve, the capacity utilization rate in US industry improved by 0.6 points to 78% in August, a level nevertheless 1.7 points below its long-term average (1972-2023).

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