Reply #12: U.S. industrial output falls in June

[UpInArms]

http://cbs.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38183.3858333333-815975950&siteID=mktw&scid=0&doctype=806&

WASHINGTON (CBS.MW) -- Output of the nation's factories, mines and utilities fell in June and the breakneck gains in May were revised slightly downward, the Federal Reserve said Thursday. Industrial output fell 0.3 percent in June to 116.2 on the Fed's index, falling back below the pre-recession peak of 116.4 recorded in June, 2000. Capacity utilization fell to 77.2 percent in June from a revised 77.6 percent in May. Economists had been expecting industrial production to remain unchanged and capacity utilization to increase to 77.7 percent, according to a survey conducted by CBS MarketWatch. Industrial output in May was revised to a 0.9 percent gain after an initial estimate of a 1.1 percent rise.