US industrial production up for 5th consecutive month in June

According to the data from US Federal Reserve, the country’s industrial production was slightly up by 0.4% in June month-on-month from a revised increase of 0.1% in May mainly due to an increase in mining and manufacturing output. This monthly increase was standing above the economists’ expectations which were calling for an increase of 0.3%. This monthly increase was also marked as the fifth monthly increase in a row.

The data showed that the country’s mining output rose by 1.6% in June following an increase of 1.9% in May and the manufacturing output was up by 0.2% following a drop of 0.4% in the previous month

The data also showed that capacity utilization in the industrial sector rose to 76.6% in June from a revised fall of 76.4% in the previous month. However, it was expected to increase to 76.7% in June. The capacity utilization in manufacturing sector also rose to 75.4.