Industrial Production Falls 0.2%, Capacity Use at 78.1% in May

WASHINGTON — Industrial production dropped 0.2% in May, the Federal Reserve reported Monday.

The production decrease followed a revised 0.3% decrease in April, first reported as a 0.3% decline.

Capacity utilization slid in May to 78.1% from a revised 78.3% the previous month, first reported as 78.2%.

Economists polled by Thomson Reuters projected a 0.2% increase for industrial production and a 78.1% capacity utilization rate.

Manufacturing output was down in 0.2% May following a revised 0.1% increase in April, first reported as flat.

Utilities' output grew 0.2% in May after dropping a revised 3.7% in April, first reported as a 3.3% slide.