(RTTNews) - A report released by the Federal Reserve on Monday showed a modest increase in industrial production in the U.S. in the month of May.
The Fed said industrial production crept up by 0.1 percent in May after climbing by an upwardly revised 0.9 percent in April.
Economists had expected industrial production to rise by 0.2 percent compared to the 0.7 percent increase originally reported for the previous month.
The uptick in industrial production largely reflected a sharp increase in mining output, which jumped by 1.3 percent.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
