CNBC's Rick Santelli joins 'Squawk on the Street' with the latest economic data to cross the tape.

Washington

New economic data shows that US industrial production rose by 0.3% in June, surpassing expectations of a 0.1% increase. Capacity utilization also exceeded forecasts, reaching 77.6% compared to the estimated 77.4%. These figures indicate a stabilization in utilization rates and a firming of industrial production numbers. The data follows a cooler-than-expected Producer Price Index (PPI) reading, with some upward revisions for previous periods. Interest rates on 10-year US Treasury bonds have slightly decreased from recent highs.

Capacity utilization 77.6% vs. 77.4% estimated

Welcome back to Squawk on the Street, Rick Santelli here live at CMHQ with the rest of the breaking news of this Wednesday morning. Our June look at industrial production capacity utilization. Production up three-tenths of a percent. Triple expectations, we're looking for up one-tenth, and in the rearview mirror, minus two-tenths now jumps up to unchanged. Minus three-tenths is second best number of the year outside of February when we were up 1.04. On utilization rates, also better than expected, 77.6. Following an upwardly revised 77.4, that's 77.5. That would be the best just since April, but it's solid. We're starting to see a definite utilization stabilization and industrial production numbers firming up. This is a good sign for manufacturing, and of course it follows this morning's PPI, cooler than expected on the current read, but definitely in the rearview mirror, there was some upward revisions. Interest rates, well, we're hovering at 445, 446 in a 10-year. That's down a couple of basis points after yesterday's close, which was virtually at a one-and-a-half-month high yield close. Squawk on the Street will return after a short break.

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Kyiv

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Breakdown