WASHINGTON — Industrial production rose 0.6% in May, the Federal Reserve reported Monday.
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The production increase followed a revised 0.3% decline in April, originally reported as a 0.6% decrease.
Capacity utilization inched up to 79.1% from a revised 78.9% in April, originally reported as 78.6%.
Economists polled by Thompson Reuters projected a 0.5% increase in industrial production and a 78.9% capacity utilization rate.
Manufacturing output was up 0.6% in May following a 0.1% decrease the previous month.
Utilities' output was down 0.8% in May after falling 4.5% the previous month.
