Sign in to comment!



Industrial Output Flat for Second Straight Month

Manufacturing Factory Gillette


U.S. industrial production was unchanged in May, the Federal Reserve said on Friday, compared with forecasts for a light increase after gains in manufacturing and mining were offset by a sharp drop in the output of utilities.

Analysts had expected a 0.2% rise in May industrial output following a revised 0.4% decline the previous month. Factory output rose 0.1%, matching expectations, while mining advanced 0.7%. But utilities output slumped by 1.8%.

Industrial capacity utilization, a measure of how fully firms are deploying their resources, edged down to 77.6% from 77.7% in April, a rate that lies 2.6 percentage points below its estimated long-run average. Analysts had forecast capacity utilization to come in at 77.9%.