Industrial Production Rose 0.2% in May
Washington, DC, June 17, 2022-- Total industrial production moved up 0.2% in May, according to the Federal Reserve.
Output has increased in every month of the year so far, with an average monthly gain of nearly 0.8%. In May, manufacturing output declined 0.1% after three months when growth averaged nearly 1; the indexes for utilities and mining rose 1.0% and 1.3%, respectively, in May.
At 105.7% of its 2017 average, total industrial production in May was 5.8% above its year-earlier level. Capacity utilization edged up to 79.0%, 0.5 percentage point below its long-run (1972–2021) average.