Manufacturing & The Economy
Industrial production increased 0.3% in June after having been unchanged in May. For the second quarter as a whole, industrial production moved up at an annual rate of 0.6%. In June, manufacturing production rose 0.3% following an increase of 0.2% in May.
Manufacturing output increased 0.3% in June after having risen 0.2% in May. The index for manufacturing decreased at an annual rate of 0.2% in the second quarter, after having advanced 5.1% in the first quarter. The factory operating rate inched up to 76.1% in June, a rate 2.6% below its long-run average.
The output of durable goods moved up 0.5% in June; for the second quarter, the index increased at an annual rate of 1.5% after having improved 6.5% in the first quarter. Among its major components, the largest gains in June were for machinery, for miscellaneous manufacturing, and for motor vehicles and parts, which all posted gains of more than 1%. Capacity utilization for durable goods manufacturing moved up 0.2% to 76.2%, a rate 0.8% below its long-run average.