US industrial production decreased 0.4% in August after rising 0.6% in July, the US Federal Reserve said today.
Manufacturing output also declined 0.4% in August, reversing its increase in July; the level of the index in August is little changed from its level in March.
Following two consecutive monthly increases, the index for utilities fell back 1.4% in August.
Even so, the index was 1.7% above its year-earlier level, as hot temperatures this summer boosted the usage of air conditioning. The output of mining moved up 1.0% in August, its fourth consecutive monthly increase following an extended downturn; the index, however, was still about 9% below its year-ago level. At 104.4% of its 2012 average, total industrial production in August was 1.1% lower than its year-earlier level