Industrial Production Declines in May
.S. industrial production dipped 0.1% in May, the Federal Reserve said Thursday.
The production downturn at factories, mines and utilities followed a followed a 0.8% gain in April, the Fed said.
The decline was in contrast to economists’ forecasts of a 0.2% increase, Bloomberg reported.
The share of industrial capacity in use fell to 81.7% from 81.9%.
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