Send news tip to FOXNews.com

SUBMIT

June Industrial Production Surges

Friday, July 15, 2005

WASHINGTON  —  U.S. industrial production (search) roared ahead in June at the fastest pace in 16 months, with half of the gain attributed to a big increase in output at the nation's utilities, reflecting the onset of hot weather.

The Federal Reserve (search) reported that industrial output increased 0.9 percent in June, three times faster than the 0.3 percent rise in May. The good performance provided further evidence that the nation's factories, mines and utilities have rebounded from a spring slowdown.

The 0.9 percent rise in industrial production was the best showing since a 1.1 percent increase in February 2004. More than half of the gain came from a 5.3 percent surge in utility output, reflecting warmer-than-usual temperatures in June. Utility production had been down in both May and April as unseasonably cool weather in many parts of the country had depressed demand for electricity to power air conditioning.

Manufacturing output (search) was up a solid 0.4 percent in June following an even stronger 0.5 percent rise in May. Both gains had followed two months of declines which had raised concerns that the manufacturing sector, the hardest hit in the 2001 recession, could be faltering again.

(Story continues below)

Advertise Here

Advertisements

Output at mines, a category that includes oil production, rose by 0.4 percent in June following a 0.2 percent May increase.


ADVERTISEMENT
Fox News Video
ADVERTISEMENT

FOX Biz Flash

  • FOX Biz Flash

    Exclusive digital wrap-up of the day's business headlines.

Advertise on Fox News Channel, FOXNews.com and FOX News Radio. Advertising Specifications (PDF). Jobs at FOX News Channel. Internships At Fox News (Deadline for summer applications: Feb. 29, 2008)

Terms of use. Privacy Statement. For FOXNews.com comments write to foxnewsonline@foxnews.com; For FOX News Channel comments write to yourcomments@foxnews.com

This material may not be published, broadcast, rewritten, or redistributed. © 2008 FOX News Network, LLC. All rights reserved. All market data delayed 20 minutes.