US industrial production declines in August

US industrial production fell a seasonally adjusted 0.4% in August, the Federal Reserve reported Thursday. The reading came in below the 0.2% decline expected and marked the largest fall since March.

July and June’s figures were revised to +0.6% and +0.5% respectively. Industrial production fell 1.1% in the year to August.

Manufacturing output also declined 0.4% in August, reversing its increase in July. Capacity utilization for the industrial sector decreased to 75.5%.