U.S. manufacturing production in July was virtually unchanged from its June level, according to data released Thursday by the U.S. Federal Reserve.
Manufacturing output declined 0.1 percent in July after increasing 0.3 percent in May and 0.2 percent in June, according to the Fed's monthly Industrial Production and Capacity Utilization index.
The manufacturing index in July was slightly above its level at the end of 2012 and 1.3 percent above its level in July 2012.
Mining output in July advanced 2.1 percent, its fourth consecutive monthly increase.
The production of utilities fell 2.1 percent, its fourth consecutive monthly decline.
Capacity utilization for total industry – including manufacturing, mining and utilities – edged down 0.1 percentage point to 77.6 percent in July.
The Fed's monthly index also reports data for various industry groups, including:
- Consumer goods – The production of consumer goods decreased 0.5 percent in July after increasing 0.6 percent in June. In July, the index stood 1.3 percent above its July 2012 level.
- Consumer durables – The production of durable consumer goods fell 1.5 percent. Within consumer durables, automotive products posted a loss of 2.4 percent.
- Consumer energy products – After declining in the previous three months, the output of consumer energy products moved up 0.3 percent, as increases in petroleum refining more than offset lower sales of electricity to residences.
- Business equipment – The index for business equipment was unchanged in July and stood 2.1 percent above its year-earlier level.
- Defense – The output of defense and space equipment advanced 1 percent in July, marking the first gain for the index since December 2012.
- Construction supplies – The output of construction supplies advanced 0.5 percent for a second consecutive month and, despite large swings over the past year, stood 4.4 percent above its July 2012 level.
- Energy materials – The output of energy materials advanced 1.2 percent on the strength of gains in oil and natural gas extraction. In July, the index for the group was 3.5 percent above its July 2012 level.
In July, the index for transit equipment was unchanged, the production of information-processing equipment decreased 0.7 percent, and the index for industrial and other equipment edged up 0.2 percent, according to the Fed.