USA: industrial production + 0.7% in April, slowing sharply on a monthly basis

In April, the figure for industrial production in the United States rose by 0.7% on a monthly basis, compared to the + 1% expected, and slowed compared to the previous increase of 2.4%, revised upwards from the previous + 1.4% reported. The utilization rate of production capacity stood at 74.9%, almost in line with the estimated 75%, while manufacturing production increased by 0.4%, compared to the estimated + 0.3%.