With a drop in manufacturing output offsetting increases in mining and utilities production, the Federal Reserve released a report on Friday showing an unexpected decrease in U.S. industrial production in the month of May.
The report showed that production edged down by 0.1 percent in May after a downwardly revised 1.0 percent increase in April. Economists had expected production to come in unchanged following the 1.1 percent increase originally reported for the previous month.
by RTT Staff Writer
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