US industrial production rises in April
The data showed that the more-than-expected monthly increase was mainly driven by a rebound in manufacturing output by 1% in April after a fall of 0.4% in March. The reports revealed that the rebound in the manufacturing output was due to widespread increases in its major industries.
The data also showed that mining output rose by 1.2% in April after posting a decrease of 0.4% in the previous month while utilities output was further up by 0.7% after a sharp rise of 8.2% in March .
The data also showed that the capacity utilization in the industrial sector was up to 76.7% in April from 76.1% in March and stood above the expectation of 76.3%. Capacity utilization in manufacturing, mining and utilities sector also increased to 75.9% and 83.3% and 76.3% respectively.
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