US industrial production rose 0.9% in May, marking the largest monthly increase since January 2023.
US industrial production increased 0.9% in May, exceeding all forecasts and marking the biggest monthly jump since January 2023. The gain was driven by a broad-based pickup in factory output, which climbed 0.9%, led by consumer goods. The figures contrast with other data indicating that manufacturing has struggled to regain momentum due to elevated input prices, inconsistent consumer demand, and high borrowing costs.
June 18, 2024
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