US industrial production growth unexpectedly slowed in July

Industrial production in the United States rose 0.2% in July after an increase of 0.3% (revised from 0.1%) in the previous month, the Federal Reserve reported on August 18.

Growth of 0.3% had been expected. Output of defense and space equipment rose 1.8%, but at the same time auto production fell 2.1%, the sharpest decline since October. The capacity utilization rate increased to 76%.