Manufacturing production rebounded for the second straight month, rising by 3.8% and 7.2% in May and June, respectively. In June, all 19 major manufacturing sectors had increases in production, as the industry attempts to recover from steep declines since February. Yet, it will take a while for output to get back to prerecession levels. On a year-over-year basis, manufacturing production has declined 11.2%, with durable and nondurable goods output down 14.3% and 7.4%, respectively. Manufacturing capacity utilization registered 60.0% in April, the lowest rate in the data’s history, which dates to January 1948, and it increased to 62.3% in May and 66.9% in June. It registered 75.2% in February
