FX.co ★ US Factory Output Stalls, Missing Forecasts

US industrial production was flat in August, following a 0.2% increase in July and missing market expectations for a 0.3% gain. Manufacturing output, which represents roughly 78% of total industrial production, fell 0.3%, ending a seven-month run of consecutive increases. Mining output inched up 0.1%, while utilities production rose 1.8%. The increase in utilities was driven by stronger electricity generation, which more than offset a decline in natural gas output. Capacity utilisation held steady at 76.3%, remaining 3.1 percentage points below its long-run average for 1972–2025.