Industrial production in the U.S. pulled back by more than expected in the month of August, according to a report released by the Federal Reserve on Tuesday.
The Fed said industrial production fell by 0.4 percent in August following an upwardly revised 0.9 percent increase in July.
Economists had expected production to dip by 0.2 percent compared to the 0.6 percent growth originally reported for the previous month.
The report also said capacity utilization slipped to 77.6 percent in August from an unrevised 78.0 percent in July. Capacity utilization had been expected to edge down to 77.8 percent.
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