US Industrial Production Unexpectedly Falls in May

The industrial output decreased 0.2 percent in May after failing to grow in the previous five months, dragged down by manufacturing and mining.

Figures for April were revised down to show production fell 0.5 percent from an initial 0.3 percent drop. 

In May, manufacturing output decreased 0.2 percent and was little changed, on net, from its level in January. 

The index for mining moved down 0.3 percent after declining more than 1 percent per month, on average, in the previous four months. The slower rate of decrease for mining output last month was due in part to a reduced pace of decline in the index for oil and gas well drilling and servicing. 

The output of utilities increased 0.2 percent in May. 

At 105.1 percent of its 2007 average, total industrial production in May was 1.4 percent above its year-earlier level. Capacity utilization for the industrial sector decreased 0.2 percentage point in May to 78.1 percent, a rate that is 2.0 percentage points below its long-run (1972–2014) average.

US Industrial Production Unexpectedly Falls in May

Federal Reserve | Joana Taborda |
6/15/2015 2:35:15 PM