JETS - Industrial Output Rose In June But Details Were Mixed; Capacity Utilization Remains Low
- Industrial production rose 0.4 percent in June, the eighth gain in the last nine months. However, manufacturing output, which accounts for about 75 percent of total industrial production, decreased 0.1 percent.
- All other industries combined (total excluding energy, high-tech, and motor vehicles; about 68 percent of total industrial output) gained 0.2 percent in June and are 9.5 percent above June 2020.
- Substantial excess capacity is one reassuring factor in the outlook for prices. The likelihood of a 1970s-style inflationary spiral remains low.
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Industrial Output Rose In June But Details Were Mixed; Capacity Utilization Remains Low