Source: Economics Group of Wells Fargo Bank, N.A. Summary
Summary
The May industrial production report was a bit of a snoozer. What you need to know: manufacturing activity continued to tread water with tariff policy still weighing on activity rather than spurring it.Utilities Pulls Down Overall Output
So far, 2025 has not been a stellar year for American industry. Industrial production fell 0.2% in May, the third decline in the first five months of the year. On a year-over-year basis, industrial production is up just 0.6%.