Industrial production increased 0.6 percent in June after a downwardly revised 0.5 percent decrease in May, according to the Federal Reserve. Capacity utilization nudged up to 78.0 percent in June, a rate that is 1.8 points below its long-run average.
Manufacturing output increased 0.8 percent after declining 1.0 percent last month. Production of durable goods increased 1.6 percent, while nondurable goods production was little changed. Capacity utilization for manufacturing rose 0.5 percentage point to 75.5 percent, a rate that is 2.8 percentage points below its long-run average.
The output of mining rose 1.2 percent after increasing 2.2 percent in May. The index in June was 12.9 percent higher than its year-earlier level.
Utilities decreased 1.5 percent in June, after declining 0.7 percent in May. The index in June was 5.0 percent higher than its year-earlier level.
Read the Fed release.
