Industrial production falls more than expected in May

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Industrial production fell 0.4% in May, more than forecast, and led by slumps in manufacturing and utilities.

Capacity utilization fell to 74.9% from a revised 75.3%.

Mining production rose for the first time in nine months, by 0.2%, due to a revival of coal mining.

The report noted that car and car-part production fell the most among durable goods.

Economists had forecast that industrial production fell 0.2% after a revised 0.6% increase during the prior month, according to Bloomberg.

Capacity utilization was forecast at 75.2%.

Manufacturing production also fell more than forecast, by 0.4%.