U.S. industrial production grew at a slower pace in May and manufacturing output fell, the Federal Reserve said, adding to signs of slowing economic growth.
Industrial production, which measures factory, mining and utility output, increased a seasonally adjusted 0.2% in May, the Fed said Friday, down sharply from a revised 1.4% increase the prior month. Manufacturing output dropped 0.1% last month, marking the first decline since January. Mining and utility output both rose, by 1.3% and 1%, respectively.
