US May Industrial Output Rises 0.1% as Annual Growth Accelerates to 1.7%
Updated
Updated · TheStreet · Jun 15
US May Industrial Output Rises 0.1% as Annual Growth Accelerates to 1.7%
3 articles · Updated · TheStreet · Jun 15
Summary
US industrial production rose 0.1% in May, below forecasts, but the year-over-year gain accelerated to 1.7% from 1.4% in April and 0.6% in March.
Manufacturing showed a similar trend on an annual basis, with growth quickening to 1.4% in May from 1.3% in April and 0.5% in March, even as monthly factory output was flat.
That firmer annual pattern lines up with improving ISM and S&P Global PMI readings and with stronger freight volumes in the Cass Freight Index, pointing to a broader manufacturing pickup.
June 25 durable goods data will be the next check on whether that momentum is reaching transportation equipment, especially non-defense aircraft orders and shipments.