Industrial Production Flat in May
Washington, DC, June 15, 2017-Industrial production was unchanged in May following a large increase in April and smaller increases in February and March, according to the Federal Reserve.
Manufacturing output declined 0.4% in May; the index is little changed, on net, since February. The indexes for mining and utilities posted gains of 1.6% and 0.4%, respectively, in May.
At 105.0% of its 2012 average, total industrial production in May was 2.2% above its year-earlier level. Capacity utilization for the industrial sector edged down 0.1 percentage point in May to 76.6%, a rate that is 3.3 percentage points below its long-run (1972–2016) average.