Industrial Production Rose 0.4% in June

Industrial production grew 0.4% in June after an upwardly revised 0.1% May increase, according to the Federal Reserve. May’s jump was the fifth consecutive month of growth

Manufacturing output grew 0.2% in June after a 0.4% decline in May. Production of durable goods and nondurables both edged up 0.5% during the month. Capacity utilization for manufacturing increased by 0.1 percentage point to 75.4%, a rate that is 3.4 percentage points below its long-run average.

The output of mining continued to rise, increasing 1.6% in June, following a 1.9% May jump. The index in June was 9.9% higher than its year-earlier level.

Utilities remained unchanged in June, following increases in the three previous months.

Read the Fed release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.
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