By Yara Abi Farraj
Share

U.S. manufacturing output falls 0.3 percent in April: Federal Reserve

Motor vehicle and parts output saw a 2 percent decline last month after increasing 2.8 percent in March
U.S. manufacturing output falls 0.3 percent in April: Federal Reserve
The U.S.'s mining output continued its downward trajectory, declining 0.6 percent after a 1.1 percent fall in March

Manufacturing output in U.S. factories saw a 0.3 percent decline in April following a 0.2 percent increase in March as motor vehicle output fell, data from the Federal Reserve showed. The central bank’s ‘Industrial Production and Capacity Utilization’ report also revealed that factory production fell 0.5 percent annually in April.

Motor vehicle and parts output saw a 2 percent decline last month after increasing 2.8 percent in March. Meanwhile, durable goods manufacturing production declined by 0.5 percent. The Fed also noted a decline in the manufacturing of electrical equipment, appliances and components, and wood products. However, the production of primary metals, computer and electronic products, aerospace, and miscellaneous transportation equipment saw an increase.

The report also noted that the manufacturing of non-durable goods in the U.S. saw a 0.1 percent decline as petroleum and coal products declined 4.4 percent.

In addition, the U.S.’s mining output continued its downward trajectory, declining 0.6 percent after a 1.1 percent fall in March.

Read: U.S. annual inflation slows to 3.4 percent in April, monthly CPI up 0.3 percent

However, utilities production saw a 2.8 percent increase after rising 1.6 percent in March. Overall industrial production was unchanged in April. However, it fell 0.4 percent year-on-year.

As for the industrial sector’s capacity utilization, it declined to 78.4 percent, down 0.1 percent from March. Meanwhile, the operating rate for the U.S. manufacturing sector declined 0.3 percent to 76.9 percent in April.

For more news on the economy, click here.

The stories on our website are intended for informational purposes only. Those with finance, investment, tax or legal content are not to be taken as financial advice or recommendation. Refer to our full disclaimer policy here.