Mumbai, June 18 -- Industrial production in the U.S. unexpectedly saw a modest decrease in the month of May, according to a report released by the Federal Reserve on Tuesday.
The Fed said industrial production dipped by 0.2 percent in May following a revised 0.1 percent uptick in April.
The unexpected decrease by industrial production came amid a sharp pullback by utilities output, which tumbled by 2.9 percent in May after surging by 4.9 percent in April.
Meanwhile, the Fed said manufacturing output crept up 0.1 percent in May, driven by a 4.9 percent spike in the production of motor vehicles and parts. Manufacturing output excluding motor vehicles and parts fell by 0.3 percent.
The report said mining output also inched up by 0.1 percen...