US Industrial Output Rises More Than Forecast in Broad Advance
- Production rose 0.9% in May, led by factories and utilities
- Manufacturing output fueled by pickup in consumer goods
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US industrial production increased in May, helped by a broad-based pickup in factory output in a positive sign for a manufacturing sector that has been struggling for momentum.
The 0.9% increase in production at factories, mines and utilities followed no change a month earlier, Federal Reserve data showed Tuesday. The gain exceeded all forecasts in a Bloomberg survey of economists.