US Industrial Production Unexpectedly Falls in May After 2 Months of Gains

Ford Motor Company's electric F-150 Lightning on the production line at their Rouge Electric Vehicle Center in Dearborn, Mich., on Sept. 8, 2022. Jeff Kowalsky/AFP via Getty Images

U.S. industrial production unexpectedly slipped in May, after two months of gains.

Factories in the mid-Atlantic region saw a decline in activity for the first time since 2021 in June, according to the Federal Reserve Bank of Philadelphia.

Production fell 0.2 percent last month, as manufacturing struggled under the weight of higher interest rates, after a 0.5 percent rise in April, the Federal Reserve said on June 15.