US manufacturing output unchanged in May after large gain in April

U.S. factory production was unexpectedly unchanged in May as strength in the output of long-lasting manufactured goods like motor vehicles was offset by declines in non-durable goods.

The flat reading in manufacturing output reported by the Federal Reserve on Monday followed an upwardly revised 0.7 percent jump in April. Economists polled by Reuters had forecast production at factories would rise 0.2 percent after a previously reported 0.6 percent surge in April. Production at factories increased 1.4 percent on a year-over-year basis in May.

Durable manufacturing output increased 0.8 percent. Production of non-durable goods like food and textiles dropped 0.9 percent.

Reuters

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