Industries Boosted Production In May

A burst in output at utilities helped send industrial production up in May. Despite the unexpected rise, analysts still felt the economy was showing signs of slowing.

The Federal Reserve reported Thursday that industrial production at the nation’s factories, mines and utilities rose a solid 0.4 percent last month, surprising economists who were predicting output would decline.

Warmer-than-normal weather in May boosted output at gas and electric utilities 1.4 percent, the second straight month where output rose sharply.

Output in the manufacturing sector grew 0.3 percent last month, with much of the gain coming from increased production of computers and other business equipment. However, production of consumer goods, including cars and household appliances, fell.

On Wall Street, the Dow Jones industrial average rose 26.87 to close at 10,714.82, the Standard & Poor’s 500 index rose 8.19 to 1,478.73, and the Nasdaq composite index was up 48.33 at 3,845.74.