Industrial Production Down 0.2% in May

Washington, DC, June 17, 2025-Industrial production (IP) fell 0.2% in May after increasing 0.1% in April, according to the Federal Reserve. 

Manufacturing output ticked up 0.1% in May, driven by a gain of 4.9% in the index for motor vehicles and parts; the index for manufacturing excluding motor vehicles and parts fell 0.3%. The index for mining increased 0.1%, and the index for utilities decreased 2.9%. 

At 103.6% of its 2017 average, total IP in May was 0.6% above its year-earlier level. Capacity utilization moved down to 77.4%, a rate that is 2.2 percentage points below its long-run (1972–2024) average.