US industrial production up 0.8% in May, factory output 0.9%
The Canadian PressProduction Automotive Manufacturing
WASHINGTON (AP) – Surging output of cars, trucks and auto parts pulled U.S. factory production up 0.9% in May.
Adding utilities and mines, overall U.S. industrial production climbed 0.8% in May from April, the Federal Reserve reported Tuesday.
Auto production jumped 6.7% despite ongoing problems arising from a shortage of computer chips.
Production rose 1.2% at mines last month and 0.2% at utilities.
American industry is rebounding from the coronavirus recession along with the rest of the U.S. economy. The Institute for Supply Management, an association of purchasing managers, reported that manufacturing activity rose in May for the 12th straight month despite supply chain problems and labor shortages.