WASHINGTON, D.C. — US industrial production cooled in June but still exceeded analyst expectations, with manufacturing and utilities output both rising, the Federal Reserve (Fed) said on Wednesday.
WASHINGTON, D.C. — US industrial production cooled in June but still exceeded analyst expectations, with manufacturing and utilities output both rising, the Federal Reserve said on Wednesday.Total industrial output rose 0.6 percent from the prior month, down slightly from May's 0.9 percent reading, the report said.Analysts expect that a slump in factory output that started in 2022 appears to now be in the rearview mirror.
8 percent, with gains in both electric and natural gas, said the Fed.For the second quarter, industrial output rose at an annual rate of 4.3 percent, up from the first three months this year.'We doubt that manufacturing will continue to grow as rapidly as it did last quarter, partly because the manufacturing surveys remain so subdued,' said Oliver Allen, senior US economist at Pantheon Macroeconomics.
Industrial Output Beats Expectations
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