facebook
twitter
search
search

Industrial output dips 0.5 percent in April

May 15, 2013 at 10:19 AM

WASHINGTON, May 15 (UPI) -- Industrial production dropped 0.5 percent in April after rising 0.3 percent in March, the U.S. Federal Reserve said Wednesday.

Manufacturing output in April slipped 0.4 percent after a drop of 0.3 percent in March.

Production of consumer goods fell 0.6 percent in April with durable goods production down 0.8 percent, pushed lower by declines in automotive products, appliances, furniture and miscellaneous items.

The production index of non-durable goods fell 0.5 percent, including a 3.1 percent drop in consumer energy products.

Production at mines in April rose 0.9 percent, the Fed said, while output at utilities fell 3.7 percent, partly due to an elevated level of output in March due to unseasonably cold weather.

The rate of capacity utilization among industrial firms -- the percentage of production compared to companies going at full steam -- fell 0.5 percentage points to 77.8 percent, a rate 0.1 percentage points above its level in April 2012, but 2.4 percent below its long run average.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
Compact cannon for British armored vehicles
Hess completes Bakken joint venture
Brazil orders search-and-rescue aircraft
Whole Foods apologizes for overcharging customers
BP settles with U.S. coastal states for $18.7 billion