Industrial production dropped 0.5 percent in April after rising 0.3 percent in
March, the U.S. Federal Reserve said Wednesday.
Manufacturing output in April slipped 0.4 percent after a drop of 0.3 percent in March.
Production of consumer goods fell 0.6 percent in April with durable goods production down 0.8 percent, pushed lower by declines in automotive products, appliances, furniture and miscellaneous items.
The production index of non-durable goods fell 0.5 percent, including a 3.1 percent drop in consumer energy products.
Production at mines in April rose 0.9 percent, the Fed said, while output at utilities fell 3.7 percent, partly due to an elevated level of output in March due to unseasonably cold weather.
The rate of capacity utilization among industrial firms -- the percentage of production compared to companies going at full steam -- fell 0.5 percentage points to 77.8 percent, a rate 0.1 percentage points above its level in April 2012, but 2.4 percent below its long run average.
Most Popular Stories
- Prosecutor to Investigate Walmart Police Shooting
- GM to Announce New Jobs in Tennessee
- Emirates Hit Libyan Targets With Airstrikes
- Smith & Wesson Misses Target
- Michael Brown Funeral: Can Americans Change the Script of Violence?
- American Killed With ISIS Fighters in Syria
- Marco Rubio Warns Obama on Deportations
- Surf's Up! SoCal Prepares for Big Storm Surf
- Ford Hires 300 at Louisville Lincoln Plant
- Hamas Claims Gaza Ceasefire as Victory Over Israel