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U.S. Industrial Production Dips 0.4% in June

A newly released report from the Federal Reserve showed U.S. Industrial production decreased 0.4% in June after having fallen 1.2% in May. For the second quarter as a whole, output fell at an annual rate of 11.6%, a more moderate contraction than in the first quarter, when output fell 19.1%.

According to the Federal Reserve report, manufacturing output moved down 0.6% last month, with declines among both durable and nondurable goods producers. The production of consumer goods declined 0.3% in June, while the output of consumer durables fell 1%. Within consumer durables, the indexes for automotive products, appliances, furniture, carpeting, and home electronics all fell in June. The output of consumer nondurable goods edged down 0.1%.

The output of business equipment fell 0.8% last month, while the output of transit equipment was unchanged. Meanwhile, the output of defense and space equipment increased 0.8%.

 

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Aerospace  •  Defense & Military  •  Electronics  •  Industry Trends & Happenings

 

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