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Industrial production edged down 0.1 percent in May after having gained 1 percent in April. A decrease of 0.4 percent for manufacturing production in May partially reversed a large increase in April, according to the Federal Reserve.
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Outside of manufacturing, the output of mines advanced 0.9 percent in May, while the output of utilities rose 0.8 percent. At 97.3 percent of its 2007 average, total industrial production in May was 4.7 percent above its year-earlier level.
Capacity utilization for total industry declined 0.2 percentage point to 79 percent, a rate 1.3 percentage points below its long-run (1972--2011) average.
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