US industrial output rises 0.7% in July
Paul Ashworth, chief U.S. economist at Capital Economics said that consecutive increases were expected in June and July due to strong domestic auto demand and depreciation of the U.S. dollar.
Capacity utilization was reported to be at 75.9% in July. Economists’ initial estimates called for a slight increase to 75.6% in a survey conducted by The Wall Street Journal. Analysts noted that the capacity utilization figure was below the long-term average of 80% showing there is slack in the economy.
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