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Industrial output flat in June
WASHINGTON, U.S. industrial production rose 0.1 percent in June, one tick faster than expected, the Federal Reserve said Thursday.
The consensus forecast called for factory production to break even in the month.
Production slowed from May's 1.3 percent rise, as major market sectors were mixed in the month.
Output from mining rose 0.4 percent, while output from utility firms rose 2.7 percent with a demand for air conditioning pushing the increase. Output from manufacturing, meanwhile, fell 0.4 percent in June.
For the second quarter, industrial production increased at an annual rate of 6.6 percent. Output in June topped June 2009 by 8.2 percent, the Fed said.
Capacity utilization in June -- output compared with production at full capacity -- was unchanged from the previous month at 74.1 percent, which is 5.9 percentage points above the rate from a year ago but 6.5 percentage points below its 1972 through 2009 average, the Fed said.
WASHINGTON, U.S. industrial production rose 0.1 percent in June, one tick faster than expected, the Federal Reserve said Thursday.
The consensus forecast called for factory production to break even in the month.
Production slowed from May's 1.3 percent rise, as major market sectors were mixed in the month.
Output from mining rose 0.4 percent, while output from utility firms rose 2.7 percent with a demand for air conditioning pushing the increase. Output from manufacturing, meanwhile, fell 0.4 percent in June.
For the second quarter, industrial production increased at an annual rate of 6.6 percent. Output in June topped June 2009 by 8.2 percent, the Fed said.
Capacity utilization in June -- output compared with production at full capacity -- was unchanged from the previous month at 74.1 percent, which is 5.9 percentage points above the rate from a year ago but 6.5 percentage points below its 1972 through 2009 average, the Fed said.