Monday, June 16, 2014

Industrial Production Improved 0.6% in May

Industrial production rose 0.6% in May, following a 0.3% decline in April. April was revised upward from a previously reported 0.6% decline. Manufacturing and mining contributed to May’s growth, moderately offset by a decline in utilities.

Manufacturing growth improved 0.6% in May, showing across-the-board growth, led by motor vehicle parts and high-tech manufacturing.

Mining production grew 1.3% in March. Utilities production decreased 0.8%, declining for the fourth month in a row. The capacity utilization ratio improved in May, rising 2 basis points to 79.1%.

Read the Federal Reserve release.

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