US industrial production steady in April

US industrial production steady in April

Manufacturing output falls 0.3%; capacity utilization at 78.4%

By Ovunc Kutlu

ISTANBUL (AA) - US industrial production remained unchanged in April, compared to the previous month, according to the Federal Reserve data released Thursday.

The market expected the figure to show a gain of 0.1%, while the figure in March was revised down to a gain of 0.1%, from an increase of 0.4%.

Industrial production was down 0.4% from the same period last year, according to the Fed figures.

Manufacturing output, meanwhile, fell 0.3% in April from the previous month, while the estimate for the figure was to show a gain of 0.1%.

The figure for March was revised down to an increase of 0.2%, from a gain of 0.5%.

Capacity utilization, which indicates overall growth and demand in the economy, was at 78.4% in April, in line with estimates.

That figure for March was slightly revised up to 78.5% from 78.4%.

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