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Financial News: U.S. Industrial Production Comes In Flat In April

U.S. Industrial Production Comes In Flat In April

05/16/2024 - 09:20:00 (RTTNews)

(RTTNews) - With a surge in utilities output offset by decrease in mining and manufacturing output, the Federal Reserve released a report on Thursday showing U.S. industrial came in flat in the month of April.

The Fed said industrial production came in unchanged in April after inching up by a downwardly revised 0.1 percent in March.

Economists had expected industrial production to edge up by 0.1 percent compared to the 0.4 percent increase originally reported for the previous month.

The report said utilities output shot up by 2.8 percent, while mining output fell by 0.6 percent and manufacturing output dipped by 0.3 percent.

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