Industrial production flat in July
The Fed reported that industrial production was unchanged in July after having gained 0.2 percent in June.
Manufacturing output declined 0.1 percent after having increased 0.3 percent in May and 0.2 percent in June. The index in July was slightly above its level at the end of last year and 1.3 percent above its level in July 2012. The factory operating rate moved down 0.1 percentage point to 75.8 percent, a rate 2.9 percentage points below its long-run average.
The output of durable goods fell 0.2 percent in July; the index has been little changed since February. In July, primary metals posted the largest gain among the major components of durables, 2.6 percent, while motor vehicles and parts recorded the largest loss, 1.7 percent. Capacity utilization for durable goods manufacturing fell 0.3 percentage point to 75.6 percent, a rate 1.4 percentage points below its long-run average.
The index for nondurable manufacturing was unchanged in July for a second month in a row and was 0.9 percent above its level of a year earlier. Among the major components of nondurables, the production of petroleum and coal products advanced 2.0 percent, and the index for apparel and leather goods moved up 0.7 percent. Printing and support recorded the largest decrease in output, 1.2 percent, while the indexes for food, beverage, and tobacco products and for textile and product mills both posted losses of around 1/2 percent. The indexes for other nondurable goods industries were little changed. Capacity utilization for nondurables edged down 0.1 percentage point to 77.3 percent, a rate 3.4 percentage points below its long-run average.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
