Industrial Production Rose 0.9% in May

Washington, DC, June 18, 2024--Industrial production rose 0.9% in May, according to the Federal Reserve. 

Manufacturing output posted a similar gain of 0.9% after declining in the previous two months. The index for mining increased 0.3% in May, and the index for utilities advanced 1.6%. At 103.3% of its 2017 average, total industrial production in May was 0.4% higher than its year-earlier level. Capacity utilization moved up to 78.7% in May, a rate that is 0.9 percentage point below its long-run (1972–2023) average.