The Fed publishes an index down 0.1% over a month, after a fairly marked increase in June. Analysts were rather tapping on stable production in July.
American industrial production in July marked a slight decline, slightly below market expectations, under the effect of a drop in the construction and raw materials sector.
According to data published Friday by the Federal Reserve (Fed), the index is down 0.1% over a month, after a fairly marked increase in June, the data of which was revised slightly upwards ( +0.4% instead of +0.3% initially announced).
It is slightly below the expectations of analysts, who tamed rather on a stable production in July, according to the consensus published by Marketwatch.
Over one year, industrial production remains upward oriented, with an increase of 1.4%.
Among the various markets, that of business equipment has been particularly well (+0.5%) while consumer products are mainly above the flotation line (+0.1%).
On the other hand, the construction sector is down (-0.2%), as well as that of raw materials (-0.3%).
If we rather look according to the main industry groups, the manufacturing industry remains stable over a month, with internal variations, since lasting goods are increasing while those of everyday consumption are declining, as well as machinery, raw materials and motor vehicles.
The other two industry groups observed by the Fed, the mining industry and the distribution services, are on their side.
The use of production capacities is also down over a month, 0.2 percentage points (pp) compared to June, at 77.5%, which is 2.1pp less than the long -term average calculated between 1972 and 2024.
