US industrial production unexpectedly falls in July

US industrial production fell 0.1% on a monthly basis in July, missing market estimates, according to Federal Reserve data released on Friday.

Analysts estimated that the production would not change in July, following an upwardly revised 0.4% rise in June.

Meanwhile, the manufacturing output was unchanged compared to the previous month, after rising 0.3% in June.

The mining sector posted a 0.4% decline over the same period, while utilities fell 0.2%.

Capacity utilization, which reflects overall growth and demand in the economy, fell to 77.5 in July, from 77.7% in June.

On an annual basis, industrial output rose 1.4% last month.