Industrial production edges higher in June
July 16, 2013
Industrial production increased 0.3% in June after having been unchanged in May, the Federal Reserve said. For the second quarter as a whole, industrial production moved up at an annual rate of 0.6%.
Manufacturing production also was up 0.3% in June following an increase of 0.2% in May. The output at mines advanced 0.8% in June, while the output of utilities decreased 0.1%. At 99.1% of its 2007 average, total industrial production was 2.0% above its year-earlier level.
The rate of capacity utilization for total industry edged up 0.1 percentage point to 77.8%, a rate that was 0.1 percentage point above its level of a year earlier but 2.4 percentage points below its long-run (1972–2012) average.
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