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US industrial output increases for June

Editorial
article image US industrial output increases for June

Industrial production in the US increased in June after it levelled out in May. As the Federal Reserve reported, this was helped by improved manufacturing output and an increase in mining.

AAP reports that manufacturing output increased by 0.3 per cent. This followed a 0.2 per cent increase for May.

The factory gains were caused by a 0.5 per cent increase in the production of durable goods. This included increases of over 1 per cent in the production of machinery and motor vehicles and parts, according to the Federal Reserve.

The result for non-durable goods was stable.

Manufacturing output fell at an annual rate of 0.2 per cent in the second quarter. This contrasted with an expansion of 5.1 per cent pace in the first quarter.

Manufacturer factory capacity utilisation went up to 76.1 per cent in June. This figure was 2.6 percentage points below its long-run average.

The output of utilities slipped 0.1 per cent, the third month in a row of decline.Year-on-year, industrial output was up 2.0 per cent in June and 0.6 per cent in the second quarter.

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