The 2020 Mid-Year Economic Update_long

Industrial Production Rises 0.6% in May

The output of utilities dropped 0.8 percent.

Industrial production increased 0.6 percent in May after having declined 0.3 percent in April according to the Federal Reserve.

In May, the output of utilities dropped 0.8 percent and the output of mines gained 1.3 percent.

At 103.7 percent of its 2007 average, total industrial production in May was 0.2 percent above its level of a year earlier. Capacity utilization for total industry increased in May to 78.6 percent, a rate that is 1 percentage points below its long-run (1972-2013) average.

Manufacturing production increased 0.6 percent in May after having edged down 0.1 percent in April; previously, factory output was reported to have declined 0.4 percent in April. In May, the index was 3.6 percent above its level of a year earlier but 1.3 percent below its peak in December 2007.

The production of durable goods rose 0.9 percent in May to a level 5.3 percent higher than a year earlier; nondurable manufacturing output increased 0.4 percent.

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