Bloomberg reported that industrial production in the US probably cooled in May 2012 as businesses trimmed investment plans and fewer motor vehicles rolled off assembly lines as sales slowed.

According to the median forecast of 79 economists surveyed by Bloomberg News, output at factories, mines and utilities increased 0.1% after April's 1.1% advance that was the biggest since December 2010.

Less factory production represents a pause in the industry that helped the world's largest economy emerge from recession three years ago. Slumps in parts of Europe and a slowdown in Asia may temper demand for US made products at the same time companies limit purchases of new equipment.

Mr Erik Johnson, a US economist at IHS Global Insight in Lexington, said that "Manufacturing has been mediocre recently. The sector isn't off the charts, but, more broadly, it is outpacing much of the rest of the economy."

Other figures highlight manufacturing is cooling. A national factory barometer, the Institute for Supply Management's index, fell in May after reaching a 10 month high in April 2012. The index's production gauge dropped, while its new orders measure advanced.

Source - Bloomberg

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