Industrial production increased by 0.1% in June while manufacturing output was flat compared to the previous month, according to the latest monthly production and capacity utilization report from the Federal Reserve.
Within the manufacturing segment, a 0.1% drop in the index for durable goods was offset by a 0.2% increase in nondurable production; the latter, Fed officials said, was paced by an increase in petroleum and coal. The machinery, electrical equipment and components indexes — along with wood products, appliances and nonmetallic mineral products — each fell by at least 0.5% within the broader durable goods sector.
Industrial production in June was up 1.1% year-over-year, and the report noted that production and manufacturing output were up by annual rates of 4% and 4.7%, respectively, for the full second quarter.
Capacity utilization remained unchanged at 76.1%.
