US industrial production below expectations

Industrial production in the US rose 0.4 percent month on month in June, falling short of market expectations.

The US Federal Reserve (Fed) announced industrial production and capacity utilization data for June. Accordingly, industrial production in the country increased by 0.4 percent in June compared to the previous month.

The data, which was below market expectations, was expected to increase by 0.6 percent. Industrial production increased by 0.7 percent in May. Manufacturing industry production, on the other hand, decreased by 0.1 percent monthly in June. Contrary to market expectations, manufacturing industry production, which decreased, was expected to increase by 0.2 percent. Manufacturing industry production increased by 0.9 percent in May.

The ongoing problems in the supply of semiconductors around the world and the 6.6 percent decrease in motor vehicle production due to these problems were effective in the decline in manufacturing industry production in the said period.

While industrial production increased by 5.5 percent annually in the second quarter of this year, manufacturing industry production increased by 3.7 percent in the same period. Capacity utilization rate increased by 0.3 points to 75.4 percent in June. In this period, the market expectation for the capacity utilization rate was 75.6 percent. Capacity utilization rate was 75.1 percent in May.


Source: bigpara- GÜNDEM by

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