Industrial output flat in May

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.

_0">

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

 

Industrial capacity utilization, a measure of how fully firms are deploying their resources, edged down to 77.6 percent from 77.7 percent 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 percent.

(Reporting by Timothy Ahmann; Editing by Chizu Nomiyama)

Popular posts from this blog

Study Abroad USA, College of Charleston, Popular Courses, Alumni

Edinburgh Napier University Admission Process

It's 'baa'... not 'bark'! Lamo the sheep is so convinced he's a dog