Connect with us

Business

U.S. Industrial Production Eased in May, Adding to Signs of Economic Slowdown



U.S. industrial manufacturing grew at a slower tempo in May and manufacturing output fell, the Federal Reserve stated, including to indicators of slowing economic growth.

Industrial manufacturing, which measures manufacturing unit, mining and utility output, elevated a seasonally adjusted 0.2% in May, the Fed stated Friday, down sharply from a revised 1.4% improve the prior month. Manufacturing output dropped 0.1% final month, marking the primary decline since January. Mining and utility output each rose, by 1.3% and 1%, respectively.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.

Trending