Industrial Production Flat in June
Washington, DC, July 16, 2019--Industrial production was unchanged in June, as increases for both manufacturing and mining offset a decline for utilities.
For the second quarter as a whole, industrial production declined at an annual rate of 1.2%, its second consecutive quarterly decrease.
In June, manufacturing output advanced 0.4%. An increase of nearly 3% for motor vehicles and parts contributed significantly to the gain in factory production; excluding motor vehicles and parts, manufacturing output moved up 0.2%. The output of utilities fell 3.6% as milder-than-usual temperatures in June reduced the demand for air conditioning. The index for mining rose 0.2%. At 109.6% of its 2012 average, total industrial production was 1.3% higher in June than it was a year earlier.
Capacity utilization for the industrial sector decreased 0.2 percentage point in June to 77.9%, a rate that is 1.9 percentage points below its long-run (1972–2018) average.