Industrial Production Unchanged in May

Industrial production was unchanged in May as utility output dropped, the Federal Reserve said Friday.

In April, output at factories, mines and utilities declined 0.4%. The decrease was originally reported as a 0.5%.

Economists had forecast output would increase 0.2%, Bloomberg News reported.

Utility output declined 1.8% following a 3.2% drop the prior month, Bloomberg said.

Manufacturing output, which makes up about three-quarters of the total, increased for the first time in three months on a gain in auto production.

Motor vehicle and parts production rose 0.7% in May, following a 0.4% decrease the prior month.

Capacity utilization, which measures plant output, dipped to 77.6% from 77.7% in April, the Fed said.

Manufacturing accounts for about 12% of the U.S. economy. The factory sector is one of trucking’s largest and most important customers.