Wed May 16, 2018, 10:12 AM

US Industrial Production Rose 0.7% in April, vs 0.6% Increase Expected

Published 1 Hour Ago Updated 1 Hour Ago

U.S. factory output rose in April, although new estimates of manufacturing and overall industrial production showed less growth in prior months than initially believed, casting a shadow over the economic outlook.

Manufacturing output rose 0.5 percent last month, the U.S. Federal Reserve said on Wednesday in a report on output across the industrial sector, which comprises manufacturing, mining, and electric and gas utilities.

Economists polled by Reuters had forecast a 0.5 percent rise in manufacturing. But the Fed's new estimates of factory output in prior months showed output was slightly lower than previously believed in each month between November and March.

Overall industrial output expanded 0.7 percent in April and estimates of output in three of the previous four months were also lowered, including a sharply reduced estimate for February.


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