Industrial Production Decline Slows in June

Industrial production fell in June at the slowest pace in eight months, the Federal Reserve said Wednesday.

The 0.4% decline in production at factories, mines and utilities followed a revised 1.2% downturn in May.

Economists had forecast a 0.6% decline, Bloomberg reported. The amount of industrial capacity in use dropped to a record-low 67%.

Factory output, which accounts for about four-fifths of production, fell 0.6%, following a 1.1% decline in May.

The factory sector is one of trucking’s largest and most important customers.