US industrial production beat expectations in April
Industrial production in the US rose 0.5 percent monthly in April, beating expectations.
The US Federal Reserve (Fed) announced industrial production and capacity utilization data for April.
Consequently, the country’s industrial production rose 0.5 percent in April compared to the previous month. Market expectations were for industrial production to decline by 0.1 percent in this period. Industrial production was unchanged in March.
Manufacturing output, on the other hand, rose 1 percent monthly in April. Expectations were for a 0.1 percent increase in manufacturing output. Manufacturing output fell 0.8 percent in March.
The capacity utilization rate in the country increased 0.3 points in the same period and became 79.7 percent. The capacity utilization rate, which was in line with market expectations, was recorded at 79.4 percent in March. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
