US manufacturing output unchanged in June, but accelerates in second quarter
A 4.7% annualized gain in the second quarter offset a flat June reading, with semiconductors and motor vehicles leading output.
- Federal Reserve data reported on Friday showed U.S. factory production was unchanged in June, missing economist expectations for a 0.1% advance after an upwardly revised gain in May.
- Overall industrial production edged up 0.1% last month, though capacity utilization for the industrial sector remained unchanged at 76.1, signaling limited expansion across the broader economy.
- Motor vehicles and parts production rose 0.7%, while utilities and mining output each increased 0.4%, though production of long-lasting manufactured goods slipped 0.1%.
- Businesses are spending heavily on artificial intelligence, keeping manufacturing—which accounts for about 9.4% of the economy—afloat as they accumulate inventory anticipating Middle East-related shortages.
- What Bloomberg Economics Says noted the June report is "inconsistent with what were seeing across a host of other datasets," though recent data signals manufacturing recovery amid artificial intelligence build-out.
12 Articles
12 Articles
The industrial production of the United States grew 0.1% in June before May, according to data released on Friday (17) by the Federal Reserve (Fed). The reading was slightly below the average estimate of a group of analysts, which pointed to a high of 0.2%. In relation to the same period of the previous year, there was a high of 1.1%. According to the Fed, manufacturing activity in the United States remained stable in June, while mining and publ…
June U.S. Industrial Production Posts Another Slight Gain, Behind Expectations
U.S Industrial Production edged up 0.1% in June for a second straight month, missing market expectations for a 0.2% gain. On an annual basis, production increased 1.1% after a downwardly revised 1.6% gain in May (from initial 1.7%). The Federal Reserve’s latest Industrial Production and Capacity Utilization report, issued July 17, showed that manufacturing output was flat during June for a second straight month after a 0.7% jump in April, and wa…
Coverage Details
Bias Distribution
- 50% of the sources are Center, 50% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
