Notizie economiche
17.07.2024

U.S. industrial production rises more than expected in June

The data released by the Federal Reserve on Wednesday showed that the U.S. industrial production rose by 0.6 per cent m-o-m in June, following an upwardly revised 0.9 per cent m-o-m climb m-o-m (from +0.7 per cent m-o-m) in May. 

Economists had expected industrial production would increase 0.3 per cent m-o-m in June.

According to the report, the June advance in total industrial production reflected increases in output in all three major industry groups - utilities (+2.8 per cent m-o-m), manufacturing production (+0.4 per cent m-o-m) and mining output (+0.3 per cent m-o-m).

Meanwhile, capacity utilization for the industrial sector increased 0.5 percentage point m-o-m to 78.8 per cent in June from an upwardly revised 78.3 per cent (from 78.2 per cent) in May. That was 0.4 percentage point above economists’ prediction of 78.46 per cent but 0.9 percentage point below its long-run (1972-2023) average.

In y-o-y terms, the industrial output jumped 1.6 per cent in June, following an upwardly revised 0.3 per cent gain (from +0.1 per cent) in the previous month. This represented the strongest annual rise since November 2022 (+1.8 per cent).

For the second quarter as a whole, the U.S. total industrial production grew by 4.3 per cent y-o-y.

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