US industry's output rise comes in at flat 0.7%

Economy 5/16/2018, 3:22 PM
US industry's output rise comes in at flat 0.7%

The rate of increase in industrial production in the United States came in at 0.7% for April, led by consumer goods, business equipment and defense and space equipment, the Federal Reserve said on Wednesday. The number compares to the same rise from the previous month, but its initial measure was revised by 0.2 percentage points higher. The level of capacity utilization advanced 0.4 points to 78% but still came in 1.8 points under its long-term trend. Manufacturing grew 0.5% after an unchanged reading for March.

The annual rate of increase in industrial production, at 3.5%, compares to 3.7% from the previous month. Capacity utilization was 76.2% one year before. The rate for manufacturing declined from 2.5% growth, registered for March, to 1.9%.

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