Washington, DC, June 15, 2007--Industrial production at the nation's mines, factories, and utilities was flat in May, according to a report from Federal Reserve. April’s numbers were also adjusted downward to an increase of 0.4%, from the earlier estimate of an increase of 0.7%.
On a year-over-year basis, industrial production is up 1.6%.
Capacity utilization was off to 81.3% from 81.5% in April. Over the past year, capacity has grown 2.1%.
Economists had forecast and increase in industrial production of 0.1% and an increase in capacity utilization pegged to 81.5%.
Factory production rose 0.1% during the month after an increase of 0.2% in April. Over the past 12 months factory output has increased 1.9%.
Motor vehicle and parts production was off 0.5% in May, after an increase if 1.4% in April.
Excluding motor vehicles and parts, output was flat in May.
Utility production fell 1.3% in May after rising 3.4% in the previous month.
