Mubasher: US industrial output rebounded in May, recording the strongest upturn in six months, as production of pickup vehicles and cars climbed.

Industrial production, a gauge of factory, mining and utility output, grew by 0.4% last May, after falling by 0.4% in the prior month, data by the Federal Reserve Bank showed on Friday.

Production at US factories, which accounts for 75% of the country’s overall industrial output, rose by 0.2% during May, as light truck assemblies rose to 8.43 million at an annualised basis, compared with 7.84 million in the previous month.

Auto assemblies rose to 2.56 million rate month-on-month.

Output of mining sector, comprising oil and gas drilling activities, rose by 0.1% during May, whereas production at utilities climbed by 2.1%.

Capacity utilisation, which reflects the hurdles to operating factories, mines and utilities in the US, inched up by 0.2% to 78.1% during the month.

At 3:52 pm GMT, the EUR/USD pair dropped by 0.50% to $ 1.1218.