US Industrial Production Declines by Most Since January on Beryl
- Output at factories, mines and utilities dropped 0.6% in July
- Hurricane Beryl, drop in vehicle output weigh on manufacturing
A refinery ahead of Hurricane Beryl's landfall in Corpus Christi, Texas in July.
Photographer: Eddie Seal/BloombergThis article is for subscribers only.
US industrial output declined in July by the most since the start of the year on a pullback in factory production that included a Hurricane Beryl-related decrease in Gulf Coast refinery activity.
The 0.6% decrease in production at factories, mines and utilities followed a downwardly revised 0.3% advance a month earlier, Federal Reserve data showed Thursday. The median estimate of Bloomberg survey of economists called for a 0.3% decrease.