Industrial production fell a weaker-than-expected 0.7 percent in April. Manufacturing was pressured lower by lower motor vehicle assemblies. Utilities registered a small gain while mining output fell. With expectations of reduced consumer & business capital spending, industrial production should continue to trend lower in coming months.
Manufacturing Output Continues to Fall
* Manufacturing output fell 0.8 percent. Half of this decline was attributable to the 8.2 percent drop in motor vehicle and parts. Anticipated slower vehicle production is likely to pressure manufacturing output lower in the coming months.
* Consumer durable goods output continues to show significant weakness, down 9.5 percent year-over year.
Manufacturing Output Continues to Fall
* Manufacturing output fell 0.8 percent. Half of this decline was attributable to the 8.2 percent drop in motor vehicle and parts. Anticipated slower vehicle production is likely to pressure manufacturing output lower in the coming months.
* Consumer durable goods output continues to show significant weakness, down 9.5 percent year-over year.