MW: Industrial production drops 0.1% in August for first fall in seven months
WASHINGTON (MarketWatch) -- Industrial production declined 0.1% in August to mark the first decline since January, and a series of revisions left output in July lower than previously estimated, according to data released Monday. Economists polled by MarketWatch expected a 0.3% gain. The 0.1% drop in output came as manufacturing output fell 0.4%, while mining output gained 0.5% and utilities output rose 1%. Motor vehicle and part output fell 7.6% after a 9% jump in July, and excluding this segment, factory output rose 0.1% in both July and August. Capacity utilization fell to 78.8% from 79.1%, as motor vehicle and part utilization fell back, to 81.4% from 88.2%.
