WASHINGTON, Aug 14 — Total US industrial production rose 3.0 per cent in July, the third monthly increase but a slower gain than in June, the Federal Reserve said today.

The increase came on gains across all major sectors, including a 3.4 per cent increase in manufacturing compared to June.

However, after dramatic declines in March and April due to the coronavirus pandemic, total output remains more than eight per cent below July 2019, while manufacturing is down by 7.7 per cent, according to the latest data.

"Most major industries posted increases, though they were much smaller in magnitude than the advances recorded in June,” the Fed said.

"The largest gain in July — 28.3 per cent — was registered by motor vehicles and parts” pushing it nearly to its pre-pandemic level of February.

Utilities rose 3.3 per cent in July, while mining output increased 0.8 per cent primarily driven by crude oil extraction and coal mining.

"In contrast, the index for oil and gas well drilling fell 8.0 per cent and was about 70 per cent below its year-earlier level,” the report said.

The rebound in output put factory capacity at 70.6 per cent up from 68.5 per cent in June, and eight-tenths higher than a year earlier. For manufacturing, installed capacity in use rose to 69.2 per cent, more than nine points above the low point in April, the Fed said. — AFP