US industrial production contracts 0.2% in May

FXStreet (Mumbai) - The official data released in the US today showed industrial production contracted 0.2% in May after dipping a revised 0.5% in April. The actual figure missed the consensus estimate of a 0.2% gain.

Manufacturing output decreased 0.2% in May and was little changed. The index for mining moved down 0.3% after declining more than 1 percent per month, on average, in the previous four months. Capacity utilization for the industrial sector decreased 0.2 percentage point in May to 78.1%, a rate that is 2.0 percentage points below its long-run (1972–2014) average.