Manufacturing activity in the US fell in May after three months of rising amid continuing turmoil in global supply chains and as high inflation began to hit demand for some consumer goods.
In particular, manufacturing production fell by 0.1% last month, after rising 0.8% last month, as announced today by the US Federal Reserve.
Total industrial production, which also includes production from mines and utilities, increased by 0.2% last month.
Analysts’ average estimates in a Bloomberg poll showed a 0.3% increase in factory output and 0.4% in wider industrial output.
Source: Capital
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