Industrial production was unchanged in May, after dropping 0.4 percent in April,
the U.S. Federal Reserve said Friday.
Manufacturing output in May rose by 0.1 percent after declining for two consecutive months.
Production at mines in May rose 0.7 percent in May.
But the gains in manufacturing and mining were offset by a 1.8 percent decline in the output at utility companies, where production dropped due to a declining demand for air conditioning in the densely populated Northeast, where the weather has been unseasonably cool.
Total production in May was at 98.7 percent of its 2007 average and 1.6 percent above the level of May 2012, the Fed said.
The rate of capacity utilization among industrial firms -- the percentage of production compared to companies going at full steam -- fell 0.1 percentage points to 77.6 percent, a rate 0.2 percentage points below its level in May 2012, and 2.6 percentage points below its long run average.
Most Popular Stories
- 5 Notable Hispanic Technology Executives
- Top Hispanic Tech Companies Push for the Top
- Justin Bieber Loses Cool Over Selena Gomez
- Maya Angelou Cancels Milagro Gala Appearance Due to Illness
- GOP 2016 Hopefuls Face Off at CPAC
- 'Holy grail of guitars' OM-45 Deluxe Available in in NY Auction
- Russia, Crimea Discuss Referendum
- Daylight Savings Time Comes This Weekend
- Heavy Sanctions on Russia Could Backfire on West
- Lindsay Lohan, Jimmy Fallon Get Soaked on 'The Tonight Show': Watch