US Capacity Utilization Slightly Down as Expected

US capacity utilization edged down to 77.5% in July 2025 from a revised 77.7% in June, in line with market expectations of 77.5%.

The rate stood 2.1 percentage points below its long-run average (1972–2024).

In the manufacturing sector, capacity utilization ticked down 0.1 percentage point to 76.8%, 1.4 points below its historical average.

The mining sector saw a 0.5-point decline to 90.3%, though it remained 3.8 points above its long-run norm.

Meanwhile, the operating rate for utilities declined by 0.4 points to 70.0%, yet it continued to lag well behind its long-term average.