US Industrial Production Increase 0.9% In May

US industrial production increased 0.9% in May, compared to the previous month, according to the Federal Reserve data that was released Wednesday.

The market expected the figure to show a gain of 0.3% after it was unchanged in April.

Annually, industrial production was up 0.4% from the same period last year, according to the figures.

Manufacturing output also rose 0.9% in May from the previous month, coming in much higher than expectations of a 0.3% gain.

The figure for April was revised to show a decrease of 0.4%, from a decline of 0.3%.

Capacity utilization, which indicates overall growth and demand in the economy, was at 78.7% in May, slightly higher than estimates of 78.6%.

That figure for April was revised down to 78.2% from 78.4%. -