US industrial production ticks higher

(Sharecast News) - Industrial output across the United States inched higher in August, unexpectedly rebounding after a contraction the month before, according to data out on Tuesday from the Federal Reserve. Industrial production was 0.1% higher over the month, after a revised 0.4% decrease in July - the steepest decline since September 2024.

This was ahead of analysts' expectations for 0.1% decline.

Manufacturing output was 0.2% higher, bouncing back after slipping 0.1% the month before. Motor vehicles and parts production up 2.6%, while fabricated metal products and machinery both posted declines.

The index for mining was also 0.9% higher, after dropping 1.5% in July, while the gauge measuring utilities production rose 2.0%.

Meanwhile, capacity utilisation for manufacturing improved 0.1 percentage points to 76.8%, but remains 1.4pp below its historic average.