Industrial production was flat in May, the Federal Reserve reported Thursday.

The increase followed a revised 1.1% gain in April, first reported as a 1.0% increase.

Capacity utilization slid to 76.6% in May from 76.7 the previous month.

Economists polled by Thomson Reuters projected a 0.2% increase for industrial production and a 76.8% capacity utilization rate.

Manufacturing output was fell 0.4% in May, following a 1.1% rise in April.

Utilities’ output rose 0.4% after increasing 0.7% in April, while mining was up 1.6% after a 1.5% gain the month before.

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Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.