U.S. Factory Output Falls for a Third Time in Four Months

U.S. factory production fell in April for a third time in four months with a broad decline led by weakness in machinery and motor vehicles, adding to signs of manufacturing sector weakness.

Manufacturing output contracted 0.5% after an unchanged reading the prior month, according to Federal Reserve data Wednesday that missed all estimates in Bloomberg’s survey. Total industrial production, which also includes mines and utilities, also decreased 0.5% after the March figure was revised up to a 0.2% gain from a previously reported drop.