The Federal Reserve reported a 0.2% drop in industrial production, following stagnating in May, while analysts polled by Archyde.com on average projected growth of 0.1%.
Like the previous month, manufacturing output alone fell 0.5% as production of vehicles and a range of other goods fell, suggesting that rising interest rates are hurting the manufacturing sector.
The Archyde.com consensus was for a decline of just 0.1%.
(Report Lucia Mutikani; French version Dina Kartit, edited by Laëtitia Volga)
