Durable Goods drive up manufacturing in May.
Press Release Summary:
June 21, 2010 - According to Federal Reserve, manufacturing production increased by 0.8% in May, driven by 1.7% rise in durable goods production. Gains were widespread, with 9 of 11 industries increasing last month. Two of the fastest growing industries, wood products and furniture, are likely benefiting from end of homebuyer tax credit in April. Two industries that declined were aerospace, which tends to jump around from month-to-month more than other sectors, and electrical equipment and appliances.
Original Press Release
Durable Goods Drive Up Manufacturing in May
Press release date: June 16, 2010