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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