Output from the United States’ factories was up 0.6 per
cent in May, according to data from the country’s central bank.
Reuters reports that the rise, tracked by the Federal Reserve, followed a dip in production
of 0.1 per cent in April. It was ahead of predictions by surveyed economists of 0.5
“The manufacturing sector continued to show signs of catching up
after disruptions this past winter with some signs that underlying demand is
still strong,” USA Today quotes Diane Swonk, chief economist of Mesirow Financial, as saying.
Motor vehicle output made strong gains to be up by 1.6
per cent. Business equipment production was also up, but non-durable consumer
goods were down.
Factory capacity utilised increased to 77.0 per cent,
the strongest result since March 2008.
Image: NY Times