Published • loading... • Updated
US factory production flat in May; AI investment supporting manufacturing
Factory output was flat after four months of gains as supply-chain disruptions and rising costs began to weigh on activity, economists said.
- Yesterday, the Federal Reserve reported Total IndustrialProduction rose 0.1% in May, missing the 0.3% Bloomberg forecast, while Manufacturing output stalled after four months of gains.
- Supply chain disruptions from the Iran war and rising costs are weighing on activity, conflicting with recent survey signals indicating a pickup in Factory orders and customer stockpiling.
- Mining output increased 1.3% while Utilities declined 0.4%, lifting CapacityUtilization to 76.2%; April Production was revised upward to 0.7%.
- Defense and space equipment production climbed to its highest level since December 2019, yet economists warn that surging producer costs may further dampen output in coming months.
- Replenishing munitions used in the Iran war and ongoing data center buildouts remain potential growth drivers for IndustrialProduction through the remainder of the year.
Insights by Ground AI
24 Articles
24 Articles
The Times of Northwest Indiana+7 Reposted by 7 other sources
Factory output steady after months of growth
WASHINGTON — U.S. factory production was unexpectedly unchanged in May after gains in the prior months, which some economists said were related to businesses building up inventory in anticipation of shortages and higher prices due to the war in the…
·Cherokee County, United States
Read Full Article
The increase in production in the months of April and February was due to the fear of many companies of shortages and high prices due to the war against Iran
Father's Day SaleGet 40% off Vantage subscriptions for yourself or a friend.Get Started
Coverage Details
Total News Sources24
Leaning Left3Leaning Right4Center12Last UpdatedBias Distribution63% Center
Bias Distribution
- 63% of the sources are Center
63% Center
L 16%
C 63%
R 21%
Factuality
To view factuality data please Upgrade to Premium
