US industrial output outlook “fragile, mixed”; falls 0.2% in May

15 June 2023

 

Summary: US industrial output down 0.2% in May, below expectations; up 0.2% over past 12 months; ANZ: sector outlook fragile, mixed; Treasury yields fall, rate-cut expectations firm; capacity utilisation rate down 0.2ppts to 79.6%, not far below long-term average. The Federal Reserve’s industrial production (IP) index measures real output from manufacturing, mining, electricity and gas company facilities located in the United States. These sectors are thought to be sensitive to...

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