Industrial Production Increased 5.4 Percent in June; Still 10.8% Below Pre-Crisis Level

From the Fed: Industrial Production and Capacity Utilization Total industrial production rose 5.4 percent in June after increasing 1.4 percent in May; even so, it remained 10.9 percent below its pre-pandemic February level. For the second quarter as a whole, the index fell 42.6 percent at an annual rate, its largest quarterly decrease since the industrial sector retrenched after World War II. Manufacturing output climbed 7.2 percent in June, as all major industries posted increases. The largest gain-105.0 percent-was registered by motor vehicles and parts, while factory production elsewhere......(read more)

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