RTTNews - Industrial production continued to decrease in the month of May, according to a report released by the Federal Reserve on Tuesday, with production falling by a little more than economists had been anticipating.
The report showed that industrial production fell 1.1 percent in May following a revised 0.7 percent decrease in April. Economists had been expecting production to fall 1.0 percent compared to the 0.5 percent drop originally reported for the previous month.
Additionally, the Federal Reserve said that capacity utilization fell to 68.3 percent in May from a revised 69.0 percent in the previous month. The capacity utilization rate had been expected to slip to 68.4 percent from the 69.1 percent originally reported for April.
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