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Industrial production increased 0.6 percent in July after rising 0.1 percent in both May and June. Revisions to the rates of change for recent months left the level of the index in June little changed from its previous estimate. Manufacturing output rose 0.5 percent in July, the same rate of increase as was recorded for June. At 98.0 percent of its 2007 average, total industrial production in July was 4.4 percent above its year-earlier level. Industrial production decreased by 1.8 percent for Wood Products but rose by 0.2 percent for Paper.
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Capacity utilization for total industry moved up 0.4 percentage point to 79.3 percent, a rate 1.0 percentage point below its long-run (1972--2011) average. As with industrial production, capacity utilization fell for Wood Products (-1.6 percent) but rose for Paper (+0.4 percent).
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Capacity at the all-industries and manufacturing levels crept higher (0.1 percent). By contrast, Wood Products and Paper both dropped by 0.2 percent.
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