US industrial production flat in May
The data showed that the country’s manufacturing output dropped by 0.4% in May following a rise of 1.1% in April while the mining output was further up by 1.6% following a 1.5% increase in the previous month.
The data also showed that capacity utilization in the industrial sector fell to 76.6% in May while it was expected to remain unchanged at 76.7% in April. The capacity utilization in manufacturing sector was also down to 75.5% while the mining and utilities sectors increased to 84.3%and 76.6%, respectively.
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