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Tuesday, August 20, 2019
HomeNewsEconomyIndustrial Production for May Doubles Consensus Forecast

Industrial Production for May Doubles Consensus Forecast

Manufacturing industry production concept, depicting factory production on a conveyor belt with factory operational workers in uniform. (Photo: AdobeStock)
Manufacturing industry production concept, depicting factory production on a conveyor belt with factory operational workers in uniform. (Photo: AdobeStock)
Manufacturing industry production concept, depicting factory production on a conveyor belt with factory operational workers in uniform. (Photo: AdobeStock)

The Federal Reserve reported industrial production gained 0.4% after falling 0.4% in May, doubling the consensus forecast. At 109.6% of its 2012 average, total industrial production was 2.0% higher than a year earlier.

IndicatorPriorPrior RevisedConsensus ForecastForecast RangeActual
Industrial Production – M/M ∆-0.5%-0.4%0.2%-0.1% — 0.5 0.4%
Manufacturing M/M ∆-0.5%0.2%-0.1% — 0.2%0.2%
Capacity Utilization Rate77.9%78.0%77.7% — 78.4%78.1%

The indexes for manufacturing and mining rose 0.2% and 0.1%, respectively. The latter met the consensus forecast. The index for utilities rose 2.1%.

Capacity utilization for the industrial sector rise higher by 0.2% in May to 78.1%. That rate, which is 1.7% below its long-run (1972–2018) average, slightly beat the consensus forecast.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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