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US industrial production rises in April

by ChemOrbis Editorial Team -
  • 17/05/2017 (14:40)
According to the data from US Federal Reserve, the country’s industrial production increased by 1% in April on a monthly basis after posting a revised rise of 0.4% in March. The rise in the output stood above the estimates of a rise of 0.3% and was the largest monthly increase since February 2014.

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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