US DATA: May Industrial Production +0.1% after flat in Apr, marking
a second month of stagnation. Cap-U was 76.7%. In IP, mfg +0.4%, mining
+0.5% and Utilities -2.8% (reverses +2.4% in Apr). Motor vehicles was
“down in the past two months because of supply chain disruptions
following the earthquake in Japan. Excluding motor vehicles and parts,
manufacturing output advanced 0.6 percent in May and edged down 0.1
percent in April; the decrease in April in part reflected production
lost because of tornadoes in the South at the end of the month.” In mfg,
home electronics and biz eqpt jumped.