Recession Watch: Manufacturing Output Unexpectedly Declines

Recession Watch: Manufacturing Output Unexpectedly Declines


American manufacturing output unexpectedly contracted in May, data from the Federal Reserve showed Friday, confirming indications of decline seen in regional Fed reports over the last month.

Manufacturing output declined by 0.1 percent in May, the Fed said in its monthly report on industrial output. Economists had been expected manufacturing output to climb 0.4 percent. Despite the decline, the index is still up 4.8 percent over the past 12 months.

Nondurable good manufacturing rose 0.1 percent, weaker than many analysts expected. Durable goods manufacturing fell 0.2 percent. Excluding cars and trucks, durable goods manufacturing fell 0.4 percent. A category of “other manufacturing,” which includes logging and publishing, fell 0.2 percent.

Manufacturing outside of energy-related businesses fell 0.2 percent while energy-related manufacturing rose 1.4 percent,

Trending: FOX NEWS Host Jesse Watters Asks: Was Someone Else In Paul Pelosi’s Vehicle When It Crashed? [VIDEO]

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend