Industrial Production in the U.S. Unexpectedly Fell in April

Industrial production in the U.S. unexpectedly declined in April, held back by a plunge in utilities as temperatures warmed and a broad-based decrease in manufacturing.

Output at factories, mines and utilities decreased 0.6 percent after a 0.9 percent gain the prior month that was larger than previously reported, a report from the Federal Reserve showed today in Washington. The median forecast in a Bloomberg survey of 81 economists called for an unchanged reading. Manufacturing, which makes up 75 percent of total production, decreased 0.4 percent.