US industrial production fell 0.5% in April

In April, industrial production in the United States fell by 0.5%, noting the third drop in the index over the past 4 months, the Federal Reserve reported. Economists had not expected a decline. They had predicted an increase of 0.1%. American companies reduced their production of automobiles and spare parts by 2.6% last month against the background of significantly increased stocks in their warehouses before the introduction of new increased duties on Chinese goods. The indicator, which does not take into account the production of automobiles and spare parts, also dropped over the month by 0.3%. The production of machinery, electrical equipment and utilities decreased. At the same time, production increased by 1.6%. Capacity utilization in the manufacturing sector dropped to 75.7% from 76.2% a month earlier.

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