U.S. industrial production dipped 0.2% in May, the Federal Reserve said Tuesday.
The decline in production at factories, mines and utilities followed a 0.7% decrease in April.
The downturn in contrast to the 0.1% increase forecast by economists, Bloomberg reported.
Manufacturing, which accounts for about four-fifths of industrial production, was unchanged from the previous month. Ìý The share of industrial capacity in use fell to 79.4%, the lowest since September 2005, from 79.7% the previous month. Ìý The factory sector is one of trucking’s largest and most important customers.
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