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US industrial output reaches nearly 2 year-high

by ChemOrbis Editorial Team -
  • 18/05/2016 (16:14)
According to data released by the US Federal Reserve, US industrial production, which includes factories, mines and power plants, posted the highest increase since November 2014 on the back of surging utility output. Industrial output rose 0.7% on the month in April following two consecutive months of contraction.

The increase was driven by higher utility output, which soared 5.8% in April. Factory output rose 0.3% thanks to stronger auto and machinery production. Meanwhile, mining production fell 2.3%, posting the eighth consecutive monthly decline as energy companies reduced oil and gas drilling.
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