U.S. industrial output flat in May

WASHINGTON (MarketWatch)
Industrial production was unchanged in May, the second straight weak monthly report, the Federal Reserve said Friday
The flat reading was below economists' forecasts of a 0.1% gain. April's production was revised slightly higher to a drop of 0.4% from the initial estimate of a 0.5% drop
Output at factories alone increased 0.1% in May after two straight monthly declines
The sector has seen little growth since the turn of the year, the Fed said
Auto-related production rose 0.7% in May after a 0.4% drop in the prior month
Excluding the auto sector, output was unchanged
Over the past year, industrial output has risen 1.6%
Capacity utilization - a gauge of slack in the economy - fell to 77.6% in May from 77.8% in April, below the average of 80.2% from 1972-2012