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The Federal Reserve released its industrial production report on Monday. The U.S. industrial production dropped 0.2% in May, missing expectations for a 0.3% increase, after a 0.5% decline in April. April's figure was revised down from a 0.3% decrease.
The decline was driven by lower mining output. Mining output dropped by 0.3% in May as oil and gas well drilling plunged 7.9%.
Utility output climbed by 0.2% in May, after a 3.7% drop in April.
The U.S. manufacturing production declined 0.2% in May.
Capacity utilisation rate fell to 78.1% in May from 78.3% in April. April's figure was revised up 78.2%. Analysts had expected a capacity utilisation rate of 78.3%.
These figures are pointing to a slower economic growth in the U.S.
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