US industrial production down 0.5% in April
Posted May 15, 2019 7:00 am
WASHINGTON (AP) - U.S. industrial production fell in April, dragged by a big drop in factory output as production of autos and auto parts continued to slide.
The Federal Reserve says industrial output - reflecting total production at factories, utilities and mines - dropped 0.5% in April after a 0.2% March gain. Industrial production fell 0.5% in February.
Manufacturing output fell 0.5%, led by a 2.6% decline in motor vehicles and parts, which has fallen in three of the past four months.
Production at the nation's utilities fell a sharp 3.5%. Production at mines, a sector that also covers oil and gas drilling, rose 1.6%.
Manufacturing has struggled over the past year, reflecting weakness in auto sales and the global economy.
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