Business Standard

US industrial output surges in June, but still below pre-Covid levels

The June performance was better than economists had forecasts and reflected the reopening of many parts of the US economy after lockdowns in the spring

Workers build the roof of a single axel towable Pioneer traditional recreational vehicle at the Thor Industries Heartland RV Assembly Plant in Elkhart, Indiana. (Photo: Reuters)
Premium

Workers build the roof of a single axel towable Pioneer traditional recreational vehicle at the Thor Industries. File Photo

AP | PTI Washington
Production at America's factories, utilities and mines surged last month, but remained well below pre-pandemic levels.

The Federal Reserve said Wednesday that US industrial production rose 5.4 per cent in June, the second straight monthly gain after a 1.4 per cent uptick in May. But it was still 10.9 per cent below the level in February before the economy virtually shut down in the face of the coronavirus.

The June performance was better than economists had forecasts and reflected the reopening of many parts of the US economy after lockdowns in the spring.

Despite the gains in May and June,

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jul 15 2020 | 8:31 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com