Industrial production slips 0.1% in May

WASHINGTON (MarketWatch)
Industrial production weakened in May as output of cars and other items slowed, according to data released Friday that show the impact of a deteriorating global economy
The Federal Reserve said industrial production slipped a seasonally adjusted 0.1% in May after gaining 1% in April
April's reading was downwardly revised from an initially reported 1.1% expansion
Economists polled by MarketWatch had expected no change in May
Industrial output was 4.7% stronger than the same period of last year
Capacity utilization declined 0.2 percentage point to 79.0%, though that still tied for the second-highest reading of the year