US Industrial Production Falls 0.1% in July, Missing Expectations

July Industrial Production Data

• 📉 Industrial production for July came in at a -0.1% change, falling short of expectations for unchanged output.
• 📈 Last month's production figure was revised upwards from 0.3% to 0.4%, marking the second-best number of the year.

Capacity Utilization

• 📊 The capacity utilization rate stood at 77.5%, which is on the lighter side.
• 📌 This rate is the lowest since 77.47% in May, or 76.8% in November of the previous year if considering finer decimal points.

Market Reaction

• 🟢 Despite the negative production data, equities showed gains.
• 📈 The 10-year Treasury yield remained unchanged on the day and up one point on the week.