US industrial production rises 0.2% in May, below estimate

By Ovunc Kutlu

ANKARA (AA) - US industrial production increased 0.2% in May, coming in below market estimate, the Federal Reserve said Friday.

The market estimate was a gain of 0.4%, while it increased 1.4% in April.

Manufacturing output declined 0.1% in May, coming against the market expectation of a 0.3% increase. It posted a gain of 0.8% in April.

Capacity utilization, which indicates overall growth and demand in the economy, came in at 79% in May, also coming below the market expectation of 79.2%.

The figure stood at 78.9% in April.