April Industrial Production Falls

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roduction at U.S. factories, mines and utilities fell 0.2% in April, the Federal Reserve said Tuesday.

The drop was the first since January and followed a revised 0.1% rise in March, less than the 0.3% originally reported.

Economists had forecast a 0.2% rise in production for April, Bloomberg reported.

Manufacturing, which accounts for almost 90% of industrial production, was unchanged in April following a revised 0.3% drop in March that was bigger than previously estimated.

Outside of automobiles, manufacturing production rose 0.4%, the Fed said. The factory sector is one of trucking’s largest and most important customers.

The report said the share of industrial capacity in use fell to 79.2% in April, from 79.4% a month earlier.

Business equipment production, including transportation and information processing equipment, rose 1.2%, following a 0.6% increase in March.

Production of consumer goods, including automobiles, fell 2.1% in April after dropping 2% in March. Furniture and appliance manufacturing dropped 2.5% after a 0.6% rise in March.

ining output, including oil extraction, was unchanged in April following a 0.5% rise.