The 2020 Mid-Year Economic Update_long

Industrial Production Unchanged in May

Industrial production was unchanged in May after a smaller revised increase of 0.4 percent in April. Output in the manufacturing sector edged up 0.1 percent in May, and mining output moved up 0.5 percent after declining 0.6 percent in April.
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At 112.7 percent of its 2002 average, overall industrial production for May was 1.6 percent above its year-earlier level. The rate of capacity utilization for total industry fell 0.2 percentage point, to 81.3 percent, a level 0.3 percentage point above its 1972-2006 average.
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Market Groups
The output of consumer goods decreased 0.2 percent in May after having risen 0.8 percent in April. The production of consumer durables edged down 0.1 percent in May, and the output of nondurables fell 0.3 percent. ...

electrical equipment, appliances, and components; motor vehicles and parts; and miscellaneous manufacturing. The index for nondurable manufacturing was unchanged.
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The production of petroleum and coal products advanced 2.3 percent in May and reversed most of its April drop, which was caused by shutdowns at some petroleum refineries. Among other nondurables, increases were registered for apparel and leather and plastics and rubber products, but output decreased for textile product mills; food, beverage, and tobacco products; printing and related activities; and chemicals. The production of non-NAICS manufacturing (logging and publishing) moved down for a second consecutive month in May.
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Mining production increased 0.5 percent in May due to gains in coal and natural gas. The output of utilities slipped 1.3 percent after having risen 3.4 percent in April. Capacity utilization for industries at the crude stage of processing moved down 0.2 percentage point, to 88.7 percent, in May. Capacity utilization for industries at the primary and semifinished stages also moved down 0.2 percentage point, to 81.8 percent, and capacity utilization for industries at the finished stage edged down 0.1 percentage point, to 78.4 percent.Industrial production was unchanged in May after a smaller revised increase of 0.4 percent in April. Output in the manufacturing sector edged up 0.1 percent in May, and mining output moved up 0.5 percent after declining 0.6 percent in April.
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At 112.7 percent of its 2002 average, overall industrial production for May was 1.6 percent above its year-earlier level. The rate of capacity utilization for total industry fell 0.2 percentage point, to 81.3 percent, a level 0.3 percentage point above its 1972-2006 average.
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Market Groups
The output of consumer goods decreased 0.2 percent in May after having risen 0.8 percent in April. The production of consumer durables edged down 0.1 percent in May, and the output of nondurables fell 0.3 percent. Within consumer durables, the output of automotive products declined 0.7 percent, as light vehicle assemblies decreased. The output indexes for the other major categories of consumer durables all increased.
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The output of home electronics rose 1.7 percent because of continued strength in home computers and audio and video equipment; the indexes for appliances, furniture, and carpeting and for miscellaneous goods both moved up 0.3 percent. Within consumer nondurables, the output of non-energy goods moved down 0.2 percent after a rise of 0.3 percent in April; a decrease in the production of foods and tobacco in May outweighed an increase in clothing. The output of consumer energy products dropped 0.6 percent. Residential sales by gas utilities fell, but the decrease was partly offset by an increase in the output of fuels.
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The output of business equipment was unchanged for a second straight month in May; gains in transit equipment and in information processing equipment were offset by a decline in industrial and other equipment. Transit equipment rose 0.7 percent and was supported by continued strength in civilian aircraft and by a rebound in the production of medium and heavy trucks, and information processing equipment rose 0.5 percent, in part because of output gains in computers produced for businesses. Industrial and other equipment contracted 0.5 percent.
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The production of defense and space equipment expanded 1.6 percent, as the effects of a shipyard strike that started in early March and went into April ended. The output of construction supplies advanced 0.5 percent in May after being unchanged in April. The output of business supplies edged down 0.1 percent in May because of weakness in printing and in commercial sales of gas.
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The production of materials was unchanged in May, as a gain in durable materials was offset by a decline in nondurable materials. Within durables, the output of equipment parts edged down 0.1 percent because of a decline in the output of semiconductors. The output of consumer parts edged down 0.1 percent because of a decrease in motor vehicle parts.
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The production of other durables increased 0.6 percent; the output was boosted by gains in plastic materials, nonferrous metals, and miscellaneous steel. Within nondurable materials, the production of chemical materials and of paper materials both fell, while the output of textiles rose 0.6 percent. The production of energy materials was unchanged in May after having risen 0.7 percent in April.
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Industry Groups
Manufacturing output edged up 0.1 percent in May. However, capacity is estimated to have increased at a faster pace, and the factory operating rate declined 0.1 percentage point, to 79.9 percent. The production of durable goods edged up 0.1 percent in May after an increase of 0.5 percent in April.
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Increases were recorded in the indexes for nonmetallic mineral products, primary metals, computer and electronic products, and aerospace and miscellaneous transportation equipment. Decreases were recorded in the indexes for wood products; machinery;

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