US industrial production down

June 15th, 2012 - 10:00 pm ICT by IANS  

Washington, June 15 (IANS) US industrial production, an indicator of the output of mines, factories and utilities, edged down 0.1 percent in May following an increase of 1 percent in April, the Federal Reserve said Friday.

Manufacturing output, the largest component of the overall industrial production, declined 0.4 percent in May, Xinhua reported.

Manufacturing industry has shown strong performance since the US economy began to recover from the recession more than two years ago.

The output of mining sector moved up 0.9 percent in May, and the output of utilities gained 0.8 percent last month.

The overall industrial capacity utilization, a key measure of slack in the industrial economy, dropped to 79 percent in May, 0.2 percentage point lower than the revised figure in April, and was 1.3 percentage points below its average from 1972 to 2011.

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