Industrial Production Increased 0.2% in May
- Jun 17, 2022
- Brian Turner
Total industrial production increased 0.2% in May but manufacturing output declined 0.1%. The total production increased every month of the year so far.
Total industrial production increased 0.2% in May and output has increased in every month of the year so far, with an average monthly gain of nearly 0.8%, according to the latest data released by the Federal Reserve.
Manufacturing output declined 0.1% after three months when growth averaged nearly 1%.
In May, the indexes for utilities and mining rose 1.0% and 1.3%, respectively.
Capacity utilization increased in May to 79.0% from 78.9% in April, the Fed statement noted.