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Industrial Production Declines in April
Industrial production decreased 0.6% in April after a 0.9% gain the prior month that was larger than previously reported, the Federal Reserve said May 15.
The median forecast in a Bloomberg News survey of 81 economists called for an unchanged reading.
Manufacturing, which makes up 75% of total production, decreased 0.4%. Capacity utilization, which measures the amount of a plant that is in use, fell to 78.6% from 79.3% the prior month.
