WASHINGTON - Industrial production increased 0.1% in June, the smallest increase in four months, as capacity utilization held steady at 74.1%, the Federal Reserve reported today.
Manufacturing output decreased 0.4% in June after three months of gains around 1%. Durable goods manufacturing increased 0.1%. Utilities’ output increased 2.7% on warmer-than-average seasonal temperatures.
Economists polled by Thomson Reuters expected industrial production to fall 0.1% and for capacity utilization to be 74.1%, according to the median estimate.
For the second quarter, which ended in June, industrial production increased 6.6%. May’s industrial production was revised higher to a 1.3% increase from the 1.2% rise initially reported. Capacity utilization in May was revised lower to 74.1% from 74.7%.
