U.S. Industrial Production Rebounds Much More Than Expected In April
(RTTNews) - The Federal Reserve released a report on Friday showing industrial production in the U.S. rebounded by much more than anticipated in the month of April.
The report said industrial production climbed by 0.7 percent in April after falling by a revised 0.3 percent in March.
Economists had expected industrial production to rise by 0.3 percent compared to the 0.5 percent decrease originally reported for the previous month.
Utilities output led the way higher, surging by 1.9 percent, while manufacturing output increased by 0.6 percent and mining output edged down by 0.1 percent.
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