Industrial output of the U.S. inched lower last month as manufacturing production showed steep fall, today’s report by the Fed said.
May’s overall industrial production moved down 0.1%, whereas in April it had risen by 0.9% as revised higher data indicates. The cause of last month’s decrease was a 0.7% slump of manufacturing, the biggest fall in a month since the start of 2014.
The biggest losses were recorded in car and spare parts production – 6.5% down, as primary metals and clothing dipped by 2%. The data for April was revised up to a rise of 0.6%.