Industrial output on upward trend

U.S. industrial production increased 0.2% in July from last month, according to a report issued today by the Federal Reserve Board. The increase followed a 0.4% jump in industrial production in June. Manufacturing output gained 0.4% in July from June, thanks to a 3.6% jump in the production of motor vehicles and auto parts. The output of mines increased 0.9%, while the production of utilities fell 1.9% for the month. Capacity utilization, which measures the proportion of industrial plants in use, increased 0.1% in July to 79.9%. Total industrial production is 0.1% below the year-ago period level.