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Manufacturing Output Increases 3.8% in May

2020-06-23    Author:   Source:Industrial Distribution   Views:320    

Total industrial production increased 1.4% in May, as many factories resumed at least partial operations following suspensions related to COVID-19. Even so, total industrial production in May was 15.4% below its pre-pandemic level in February. Manufacturing output — which fell sharply in March and April — rose 3.8% in May. The index for durable manufacturing increased 5.8% in May. The most sizable gain among its components was for motor vehicles and parts, where output rose substantially but also remained more than 60% below its February level.

The major market groups posted broad-based gains in their production indexes in May, but each remained well below its pre-pandemic level. The index for consumer goods rose 3.9%, led by a significant rebound for automotive products. The production of business equipment rose 5.8% and was boosted by a substantial increase in transit equipment as most factories producing motor vehicles and civilian aircraft reopened. The indexes for defense and space equipment, construction supplies, and business supplies also recorded gains. The output of materials decreased 0.8%, as the production of energy materials was held down by declines related to oil extraction that more than offset increases in the indexes for durable and nondurable materials.

industrial production, Manufacture, Fastener Expo Shanghai, International Fastener Show China

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