US June industrial output down 0.7%

US industrial output fell 0.7 per cent in June, the ninth consecutive monthly decline, the Federal Reserve said today.

US industrial output fell 0.7 per cent in June, the ninth consecutive monthly decline, the Federal Reserve said today.

In May, industrial output fell a revised 0.5 per cent, up from the initial estimate of a 0.8 per cent fall. In addition, the Fed revised April industrial output to show a 0.5 per cent drop, compared with the previous 0.6 per cent fall.

On a year-on-year basis, industrial production in June was down 3.6 per cent.

The fall in industrial was widespread, with all major categories except utilities declining in the month.

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Motor vehicle production fell 2.1 per cent in June, after rising 4.5 per cent in May. Excluding autos and trucks, industrial production was down 0.7 per cent in June.

Utility output rose 0.9 per cent in June, compared with a 1.7 per cent drop the previous month.

Mining production fell 0.4 per cent after falling 0.1 per cent in May.

Production of computers, communications equipment, and semiconductors - a broad measure of the high technology sector - fell 1.6 per cent in the month, compared with a 1.7 per cent fall in May.

AFP