Industrial Production Rose in June, But Fell 1.0% Quarterly

Industrial production rose 0.6% in June after declining 0.3% in May, according to the Federal Reserve. The increase was largely due to growth in manufacturing output. On a quarterly basis, industrial production fell at an annual rate of 1.0%.

Manufacturing output rose 0.4% in June, mostly on account of an increase in motor vehicle assemblies. The output of goods other than motor vehicles and parts was unchanged.

The utilities index rose 2.4% as warmer than usual June weather boosted electrical demand for air conditioning.

The mining index edged up 0.2% in June, as rises in the indices for oil well drilling and servicing and coal offset declines in oil and gas extraction.

Read the Fed release.