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U.S. Manufacturing Slowed in July
Output by U.S. manufacturers shrank 0.4% in July, deepening the decline since December to 1.5%, according to the Federal Reserve.
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Output by U.S. manufacturers shrank 0.4% in July, deepening the decline since December to 1.5%, according to the Federal Reserve.
The Fed says capacity utilization for manufacturing overall slipped to 75%, about 3 points below the central bank’s long-run average.
But utilization in the motor vehicle sector last month rose to 79%, its strongest all year. The Fed also says assemblies of cars and light trucks in July climbed to an annualized rate of 11.2 million units, thanks to an uptick in car production.
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