Industrial production was unchanged in June after gaining stronger than expected in May, as gains in manufacturing and mining offset declines in utilities. Last month, utilities drove the increase.
| Indicator | Prior | Consensus Forecast | Forecast Range | Result |
| Production – M/M ∆ | 0.4% | 0.1% | -0.1% to 0.4% | 0.0% |
| Manufacturing – M/M ∆ | 0.2% | 0.2% | 0.1% to 0.4% | 0.4% |
| Capacity Utilization Rate | 78.1% | 78.2% | 77.8% to 78.3% | 77.9% |
Manufacturing output rose 0.4%, driven significantly by an increase of nearly 3% for motor vehicles and parts. Excluding motor vehicles and parts, manufacturing output was up 0.2%.
The output of utilities declined 3.6%, which the Federal Reserve attributed to milder-than-usual temperatures for June reducing the demand for air conditioning.
The index for mining gained 0.2%.
At 109.6% of its 2012 average, total industrial production was 1.3% higher in June than it was a year earlier. Capacity utilization for the industrial sector decreased 0.2% in June to 77.9%, a rate that is 1.9 percentage points below its long-run (1972–2018) average and less than the consensus forecast.
