Industrial Production Rises in May

Industrial production increased 1.4% in May, as factories resume partial operations after COVID-19 related suspensions.

Manufacturing output increased 3.8% in May, but is still 16.9% below pre-pandemic levels. Durables manufacturing rose 5.8%, led by a 120.8% surge in the output of motor vehicles and parts. Nondurable manufacturing rose 2.1%, with increases for textile and product mills (10.9%), apparel and leather (20.0%), printing and support (10.0%), and plastics and rubber products (9.6%).

Mining output fell 6.8% in May and declined 14.4% year-over-year. The index for oil and gas well drilling fell 36.9%, and was 63.4% below its year-earlier level.

The output of utilities fell 2.3% in May; the output of electric utilities declined 1.1%, while the output of natural gas utilities fell 8.1%.

Read the Fed release.