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US industrial output declines further in April

by ChemOrbis Editorial Team - content@chemorbis.com
  • 15/05/2015 (17:32)
According to data released by the US Commerce Department, the country’s industrial output fell for a fifth consecutive month in April. Industrial production in the US declined 0.3% in April following a revised drop of 0.3% in the previous month. Economists’ initial estimates called for an increase of 0.1%, according to a survey by Reuters.

April’s weaker results were attributed to a decrease in mining and utilities output, which fell 0.8% and 1.3%, respectively. Utilities production, meanwhile, posted the fourth straight decrease in April. Manufacturing output was reported unchanged after posting an upwardly revised increase of 0.3% in March. In addition, oil and gas well drilling slipped 14.5%.

Meanwhile, the report also showed that the country’s capacity utilization rate declined to 78.2% in April from 78.6% in the previous month. This is the lowest rate seen since January 2014.
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