Washington ? Industrial activity edged up by 0.1 percent in August as declines in utility and mining output tempered a gain in factory production.

The small rise in industrial activity reported by the Federal Reserve Wednesday followed a 0.6 percent gain in July.

Although economists were forecasting a 0.5 percent gain for August, some analysts said the report was not as weak as the overall number seemed to suggest. Those analysts took comfort in the fact that manufacturing output grew.

“The report is stronger than appears on the surface. Unlike other parts of the economy, manufacturing activity moved up so I would say in general this is a pretty solid report,” said Stuart Hoffman, chief economist at PNC Financial Services Group. “Utility output was down probably because of the relatively cool summer we had.”

On Wall Street, the Dow Jones industrials lost 86.80 points to close at 10,231.36. The lower-than-expected reading on industrial production along with gloomy forecasts issued by Coca-Cola Co. and several other companies rattled investors.

The Fed’s report showed that mining production dropped by 1.1 percent in August, compared with a 1.3 percent gain in July. Output at utilities declined by 2.4 percent in August, following a 2 percent decline.

At the nation’s factories, however, output rose by 0.5 percent in August, after a 0.9 percent advance the previous month.

Meanwhile, businesses saw their inventories rise in July as sales picked up, according to the Commerce Department.

Workers in shuttle trucks move hundreds of containers during the morning shift at the Maersk terminal at the Port of Los Angeles in this July photo. The Commerce Department reported Wednesday that stocks of unsold goods increased by 0.9 percent in July, down from a 1.1 percent rise in June.

It said that stocks of unsold goods increased by 0.9 percent in July, down from a 1.1 percent rise in June. Sales, meanwhile, rose by 0.6 percent in July — three times the 0.2 percent increase registered in the previous month.