Industrial production decreased 0.4 percent in May
Industrial production decreased 0.4 percent in May after increasing 0.6 percent in April, the Fed reported today.
Declines in the indexes for manufacturing and utilities in May were slightly offset by a small gain for mining.
In May, the production of durables declined 0.7 percent, the production of nondurables was little changed, and the production of other manufacturing (publishing and logging) fell 0.6 percent. The largest drop among durable goods, 4.2 percent, was recorded by motor vehicles and parts. In addition, the indexes for wood products and machinery fell 1.0 percent or more. Several durable goods industries posted increases, but miscellaneous manufacturing was the only industry to register a gain of more than 1.0 percent. Within nondurables, increases for food, beverage, and tobacco products and for paper offset declines elsewhere; printing and support activities recorded the largest decrease.