US industrial output declines further in April
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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