USA: 1.4% INCREASE IN INDUSTRIAL PRODUCTION IN MAY

Steph Deschamps / June 17, 2020

WASHINGTON (Reuters) - Industrial production in the United States rose slightly less than expected in May, official statistics released on Tuesday showed.

The Federal Reserve reported a 1.4% increase in output last month after falling 12.5% in April and 4.6% in March, while economists polled by Reuters predicted on average an increase of 2.9% after the 11.2% decline initially announced for April.

Manufacturing alone posted a 3.8% rebound last month; the consensus gave it up 4.6%. Its fall in April was revised to 15.5% against -13.7% at first estimate.

Over one year, industrial production fell 15.3%, manufacturing production fell 16.5%, the Fed said.