News Summary: Factory output up slight 0.1 percent
Posted at: 06/14/2013 4:35 PM
By The Associated Press
FACTORY OUTPUT: U.S. factories increased their output just 0.1 percent in May from April after declines the previous two months. Factories made more autos and computers last month, but produced less furniture and primary metals.
INDUSTRIAL PRODUCTION: Total industrial production, which covers manufacturing, mining and utilities, was unchanged in May after a 0.4 percent drop in April.
OUTLOOK: Manufacturing has struggled this year. Weak economies overseas are buying fewer U.S.-made goods. And American businesses have reduced their pace of investment in areas such as equipment and computer software.
(Copyright 2013 by The Associated Press. All Rights Reserved.)