Industrial Production Falls 1.1%

Industrial production fell 1.1% in May, the 16th decline in 17th months, the Federal Reserve said Tuesday.

The decline in production at factories, mines and utilities followed a revised 0.7% downturn in April that had originally been reported as a 0.5% drop.

The amount of industrial capacity in use dropped to a record-low 68.3%.

The production decline about matched economists’ forecasts of a 1% drop, Bloomberg reported.



The decline in production at factories, mines and utilities followed a revised 1.7% downturn in March.

The factory sector is one of trucking’s largest and most important customers.