Industrial Production Rose 0.6% in June
Washington, DC, July 17, 2018-Industrial production rose 0.6% in June after declining 0.5% in May, according to the Federal Reserve.
For the second quarter as a whole, industrial production advanced at an annual rate of 6.0%, its third consecutive quarterly increase.
Manufacturing output moved up 0.8% in June.
The production of motor vehicles and parts rebounded last month after truck assemblies fell sharply in May because of a disruption at a parts supplier.
Factory output, aside from motor vehicles and parts, increased 0.3% in June. The index for mining rose 1.2% and surpassed the level of its previous historical peak (December 2014); the output of utilities moved down 1.5%.
At 107.7% of its 2012 average, total industrial production was 3.8% higher in June than it was a year earlier. Capacity utilization for the industrial sector increased 0.3 percentage point in June to 78.0%, a rate that is 1.8 percentage points below its long-run (1972–2017) average.