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Industrial
production (IP) increased 0.3 percent in June after having been unchanged
in May. For 2Q2013 as a whole, industrial production moved up at an annual rate
of 0.6 percent. In June, manufacturing production rose 0.3 percent following an
increase of 0.2 percent in May. At 99.1 percent of its 2007 average, total
industrial production was 2.0 percent above its year-earlier level. Wood
Products retreated by 0.6 percent in June while Paper fell by 0.9 percent.
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The
rate of capacity utilization for total industry edged up 0.1 percentage point (0.2
percent) to 77.8 percent, a rate that was 0.1 percentage point above its level
of a year earlier but 2.4 percentage points below its long-run (1972--2012)
average. Like industrial production, Wood Products capacity utilization fell by
0.6 percent while Paper dropped by 0.9 percent.
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Capacity
at the all-industries and manufacturing levels moved higher (both 0.1 percent).
By contrast, Wood Products remained unchanged while Paper contracted by 0.1
percent.
The foregoing comments represent the
general economic views and analysis of Delphi Advisors, and are provided solely
for the purpose of information, instruction and discourse. They do not
constitute a solicitation or recommendation regarding any investment.
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