Industrial Production Declines in May

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.S. industrial production dipped 0.1% in May, the Federal Reserve said Thursday.

The production downturn at factories, mines and utilities followed a followed a 0.8% gain in April, the Fed said.

The decline was in contrast to economists’ forecasts of a 0.2% increase, Bloomberg reported.

Manufacturing, which accounts for about 90% of the index, rose 0.7% following a 0.5% gain in March. The factory sector is one of trucking’s largest and most important customers.

The share of industrial capacity in use fell to 81.7% from 81.9%.