Industrial production in the United States edged down 0.1% in July 2025, missing forecasts of a flat reading and following an upwardly revised 0.4% rise in June. Manufacturing output, which makes up about 78% of total industrial production, edged up 0.1%, was unchanged after increasing 0.3% in June. Tthe index for mining declined 0.4%, and the index for utilities decreased 0.2%, with a decline in electric utilities output more than offsetting an increase in the output of natural gas utilities. Capacity utilization moved down to 77.5% in July, a rate that is 2.1 percentage points below its long-run (1972–2024) average.