U.S. industrial production edged up in May as strength in high-technology, defense, mining, and durable manufacturing offset weakness in nondurable goods and consumer products.
The Federal Reserve said Monday that industrial production rose 0.1 percent in May after a 0.9 percent gain in April. Total output was 1.7 percent above its year-earlier level.
That advance was weaker than the 0.3 percent gain economists had forecast.
Manufacturing output was unchanged following an upwardly revised 0.7 percent increase in April, but the flat headline masked a sharp divide within the factory sector. Durable-goods manufacturing rose 0.8 percent, with…
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