Industrial Production Little Changed in April

Washington, DC, May 16, 2024-Industrial production was little changed in April, according to the Federal Reserve. 

Manufacturing output decreased 0.3%; excluding motor vehicles and parts, manufacturing output edged down 0.1%. The index for mining fell 0.6%, and the index for utilities rose 2.8%. At 102.8 percent of its 2017 average, total industrial production in April was 0.4 percentage point lower than its year-earlier level. Capacity utilization moved down to 78.4% in April, a rate that is 1.2 percentage points below its long-run (1972–2023) average.