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Home » Distribution Industry News » Industrial Production Up 0.6% in June 2024

Date

  • Published on: July 19, 2024

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Distribution Industry News

Industrial Production Up 0.6% in June 2024

Industrial production rose 0.6% in June and 4.3% for the second quarter, according to the Federal Reserve.  

Manufacturing output increased 0.4% in June, 1.1% above its year-earlier level, and rose 3.4% (annual rate) in the second quarter.  

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The index for durable manufacturing was unchanged and the index for nondurable manufacturing increased 0.8%.  

Within durables, declines in the indexes for industries such as fabricated metal products (1.3 percent) and miscellaneous (1.7 percent) were offset by increases in the indexes for industries such as motor vehicles and parts (1.6 percent) and electrical equipment, appliances and components (1.5 percent).  

Within nondurables, all industry groups except plastics and rubber products posted gains, with the largest gain seen in the output of printing and support (2.6 percent). 

The index for mining increased 0.3%, and the index for utilities rose 2.8%.  

Capacity utilization moved up to 77.9% in June, a rate that is 0.4 percentage point below its long-run average.   

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