June 17, 2008
May Decline For Industrial Production
By Matthew L. Brown
U.S. industrial production declined 0.2 percent in May after falling 0.7 percent in April, according to the Federal Reserve.
Manufacturing output was unchanged in May, said the Fed. The output of utilities decreased 1.8 percent, and the output at mines increased 0.1 percent. Factory output was boosted by a small increase in the index for motor vehicles and parts.
Excluding motor vehicles and parts, manufacturing production slipped 0.1 percent after decreasing 0.5 percent in April. At 110.9 percent of its 2002 average, overall industrial production was 0.1 percent below its level of a year ago. The rate of capacity utilization for total industry declined 0.2 percent, to 79.4 percent, 1.6 percent below its average for 1972-2007.
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