US industrial production increased 6.6pc in July 2021 compared to the previous year and 0.9pc from June according to a Federal Reserve Board industrial production report on Aug 17.
The Board attributed half the monthly gain in factory output to an 11.2pc increase in motor vehicles and parts, as manufacturers canceled or cut short their usual July shutdown periods. Total motor vehicle assemblies for July were 9.7 million units, up 9.97pc from the 2020 average of 8.82 million and 8.83 million in June this year.
Manufacturing capacity utilization was 76.6pc up 7.4pc from July 2020 and 1.4pc from June this year. The mining industry is at 76.9pc capacity and registered a 12.1pc yearly increase in July 2021 and a 1.2pc gain against the previous month.