US Industrial Production Jumps 1.2%

According to the US Federal Reserve, production rose 2.1 percent in May with manufacturing and mining leading the surge. Factory production was the largest contributor to the increase, gaining 0.9 percent for its third straight monthly increase.

US factories are currently running at just under 75 percent capacity which is up 1 percent from April. Despite the increase, capacity is still 5.9 percentage points from average capacity rates.

Source: Associated Press

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