US industrial production falls 0.2% in May

ISTANBUL

US industrial production declined 0.2% in May from the previous month, ending two consecutive months of increases, according to Federal Reserve data released Thursday.

The figure came against the market estimate of a 0.1% increase after a 0.5% gain in April.

On an annual basis, industrial production expanded 0.2% in April, compared to the same month of last year, according to the Fed figures.

Manufacturing output, on the other hand, increased 0.1% in May from the month before.

The figure came better than estimates of a 0.1% monthly contraction, but posted a massive slowdown from an expansion of 0.9% in April.

Capacity utilization, which indicates overall growth and demand in the economy, moved down 0.2 percentage points to 79.6% in May.

The figure came slightly lower than expected at 79.7% after standing at 79.8% in April.