Industrial production in the United States edged down unexpectedly in May, the Federal Reserve said Tuesday, as a drop in utilities output outweighed slight upticks in manufacturing and mining.
Industrial output declined 0.2 per cent last month, after a revised 0.1 per cent increase in April, the Fed said.
This marked the second time in three months that overall output has fallen.
A consensus forecast by Briefing.com had instead expected a slight 0.1 per cent increase in industrial production.
Analysts have been eyeing the health of manufacturing output as a jump in orders ahead of US president Donald Trump鈥檚 broadest swath of tariffs unwound, while investment demand took a hit recently.
Among industry groups, manufacturing production inched up 0.1 per cent in May, reversing April鈥檚 decline. Mining output also climbed 0.1 per cent, the Fed said on Tuesday.
But a slump in electricity production dragged the index for utilities down, despite a rise in output for natural gas, the report added.
