FX.co ★ US Industrial Output Rises Less than Expected

U.S. industrial production edged up 0.1% in May, missing market expectations for a 0.3% gain, after an upwardly revised 0.9% increase in April. Manufacturing output — which represents roughly 78% of total industrial production — was flat in May, following a 0.7% rise in April and falling short of forecasts for a 0.2% advance. Mining output rose 1.3%. In contrast, utilities output declined 0.4%, as a 1.7% drop in electric utilities more than offset an 8.5% surge in natural gas utilities. Capacity utilization inched up to 76.2%, remaining 3.2 percentage points below its long‑run average (1972–2025).