Overall, U.S. industrial production fell less than economists had expected, with a drop of 0.1 per cent. Excluding the high-tech sector, industrial production was up 0.3 per cent.
Output for computers, communications equipment, semiconductors and related electronic components was down 2.5 per cent, operating at a record low of 65 per cent of capacity in July, with the industrial average falling to an 18-year low of 77 per cent.
According to the Commerce Department's preliminary estimate, gross domestic product increased 0.7 per cent, with another GDP estimate to be released Aug. 29.
