The volume of industrial production in the United States in June increased by 0.4% against the previous month, follows from the message from the Fed.

Analysts polled by the DailyFX portal expected an increase of 0.6%. In addition, the May figure was revised up to 0.7% growth from 0.8% increase.

“In June, manufacturing output fell 0.1% as the continued shortage of semiconductors led to a 6.6% cut in auto and parts production,” the agency said.

US industrial capacity utilization rose to 75.4% in June from a revised 75.1% in May, 4.2 percentage points below the long-term average. The indicator also turned out to be higher than analysts’ forecasts, who had expected its value at around 75.6%.

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The index of industrial production in the United States for the reporting month is published by the Board of Governors of the Federal Reserve in the middle of each subsequent month. This indicator is one of the key indicators for the economy, it reflects the physical volume of products manufactured by American companies (including mining and utilities) by market and category.