Breaking Stories

Economic Report: U.S. industrial output has small gain in May, has risen for 5 straight months


The numbers: Industrial production rose 0.2% in May, the Federal Reserve reported Friday, the fifth straight monthly gain.

The gain was slightly below Wall Street expectations of a 0.4% gain, according to a survey by The Wall Street Journal. From January through April, output rose an average 0.9%.

Capacity utilization inched up to 79% in May from 78.9% in the prior month. The capacity utilization rate reflects the limits to operating the nation’s factories, mines and utilities. 

Economists had forecast a 79.3% rate.

Key details: Manufacturing slipped 0.1% in May after a three straight gains. The index has advanced 4.8% over the past 12 months. The weakness came from durable goods.

Motor vehicles and parts output rose 0.7% after a 3.3% jump in the prior month. Excluding autos, total industrial output increased 0.2%.

Mining output, which includes oil and natural gas drilling, rose 1.3% after a 1.1% gain in the prior month. The sector is up 9% over the past year.

Utilities output rose 1% in May.

Big picture: Economists see manufacturing poised for gains in the near term. There are signs that supply chain bottlenecks have eased.

Market reaction: Stocks


were set to open slightly higher on Friday after posting steep declines on Thursday.

Fed Rate Hikes Will End Sooner Than You Think. What That Means for the Stock Market.

Previous article

The Fed: Fed dissenter George says jumbo interest rate rise this week risked adding to ‘policy uncertainty’

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *