Industrial production increased 0.4% in June after increasing 0.7% in May. Total industrial production in May was 9.8% higher than its year-earlier level but remains 1.2% below pre-pandemic levels. For the second quarter, total industrial production rose 5.5%.
Manufacturing output decreased 0.1% in June, driven mainly by the ongoing shortage of semiconductors in the production of motor vehicles and parts. Durable manufacturing decreased 0.2%, while nondurable manufacturing increased 0.2%. The output of utilities rose 2.7%, reflective of the heightened demand for air conditioning. Mining production increased 1.4% in June.
Read the Fed release.
