FX.co ★ US Manufacturing Output Rises for 2nd Month

In June, U.S. manufacturing output experienced a marginal increase of 0.1%, surpassing predictions of a stagnant outcome. While there was no overall change in durable goods output, certain sectors exhibited varied performance. The production of electrical equipment, appliances, and components registered a decline of 2.5%, and there was a 2.6% decrease in motor vehicles and parts. Conversely, primary metals output saw a rise of 3.1%, and aerospace along with other transportation equipment increased by 1.6%. Meanwhile, nondurable goods output improved by 0.3%, propelled by a significant 2.9% rise in petroleum and coal products. The sector's capacity utilization ticked up to 76.9%, yet it remains 1.3 percentage points shy of the historical average of 78.2% for the period from 1972 to 2024. Over the second quarter, manufacturing output grew at an annualized rate of 2.1%.