U.S. factory output flat in June

[mahatmakanejeeves]

Source: Reuters

Markets | Wed Jul 15, 2015 9:17am EDT

U.S. factory production failed to advance for a second straight month in June, the Federal Reserve said on Wednesday in a report that could bolster concerns the economy lost a bit of steam toward the end of the second quarter.

The Fed said manufacturing output was unchanged both last month and in May. A month ago it had said factory production dipped 0.2 percent in May. ... The weakness last month was concentrated in the auto sector, where output fell 3.7 percent. Excluding that decline, factory production would have increased 0.3 percent.

Despite the soft manufacturing reading, overall industrial output climbed 0.3 percent after a 0.2 percent decline in May. Mining output jumped 1.0 percent and utilities production gained 1.5 percent.

It was the biggest increase in industrial production since November, and it pushed up the percentage of industrial capacity in use to 78.4 percent from 78.2 percent in May.
....

(Reporting by Timothy Ahmann; Editing by Chizu Nomiyama)

Read more: http://www.reuters.com/article/2015/07/15/us-usa-economy-output-idUSKCN0PP1LC20150715

[fasttense]

1. Over 22 percent of our capacity is sitting idle

See how inefficient capitalism is? What could this country accomplish with that extra 22 percent? Feed the hungry, employ everyone, take care of everyone's medical bills. Twenty-two percent of our potential is just sitting around gathering dust. What a waste.

[GliderGuider]

3. Idle manufacturing capacity results in lower CO2 emissions.

That's what really matters to me (and most other life on Earth). I'd prefer to see it keep going down.

[Spitfire of ATJ]

2. Expect Wall Street to issue whips.