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Industrial Production Rises 0.2% in June

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7/15/2011 10:45:00 AM

Factory Output Unchanged; Auto Output Drops

Industrial production rose 0.2% in June as factory output held steady and utility output increased, the Federal Reserve said Friday.

The measure of output from factories, mines and utilities followed a revised 0.1% decrease in May that was originally reported as a gain.

The increase was below economists’ forecasts of a 0.3% rise, Bloomberg reported.

Factory production, which makes up three-quarters of the total, was unchanged from last month. Business equipment output decreased 0.7%.

Production of automobiles and parts fell 2%, while factory production excluding autos rose 0.2%.

Capacity utilization, which measures plant output, held at 76.7%.

Manufacturing accounts for about an eighth of the U.S. economy and the factory sector is one of trucking’s largest and most important customers.

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Industrial Production Rises 0.2% in June (7/15/2011 10:45:00 AM)
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