Industrial Production Unexpectedly Falls In August

Industrial production unexpectedly fell 0.1% in August.

Capacity utilization also fell, to 78.8% from a revised 79.1%.

Expectations were for production to grow 0.3% with capacity utilization expected to tick up to 79.3% from 79.2%.

Ahead of the report, economists at High Frequency Economics said auto production likely fell sharply in August after a surge in July.

More to come …

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