US industrial production dips in May as auto assembly lines ground to a halt

US industrial production fell unexpectedly last month as manufacturing output more than gave back April's gains as motor vehicle assembly lines ground to a halt. Total industrial output dipped by 0.1% month-on-month in May, according to the Federal Reserve, falling shy of economists' forecasts for an increase of 0.3%. By industry groups, manufacturing output was weakest, falling by 0.7% month-on-month, offset by increases of 1.8% and 1.1% in Mining and Utilities production, respectively. ...

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