Industrial production in the United States increased by 0.6% in June 2024, reflecting a slowdown from the 0.9% growth registered in May. The data, released on July 17, 2024, indicates a month-over-month comparison, highlighting the deceleration in growth rate.
In May 2024, industrial production had shown a stronger momentum at 0.9%, suggesting a more robust economic activity during that period. However, the latest figures for June reveal a moderation in industrial output, raising concerns about the strength and sustainability of the U.S. manufacturing sector's recovery.
The reduction to a 0.6% growth rate may be indicative of several factors, including potential supply chain disruptions, shifts in domestic demand, or external economic pressures. Analysts will likely scrutinize these figures closely to assess potential long-term impacts on the broader economy.
