Industrial Cap-Util Nearing "Normal"

It's been a long, hard, slog.

Manufacturing output rose 0.5 percent in July, the same rate of increase as was recorded for June. In July, the output of mines increased 1.2 percent, and the output of utilities rose 1.3 percent. At 98.0 percent of its 2007 average, total industrial production in July was 4.4 percent above its year-earlier level. 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.

That's good.  But with demand dropping like a rock in Europe and PRChina, and automotive-sales forecasts heading downward, it may not last very long.

HT:  CalcRisk