U.S. Industrial Production Held Back Partly Related to Natural Disaster in Japan
Industrial production held steady in April after a 0.7% in March. The 1.7% jump in utilities production and 0.8% increase in mining output offset the 0.4% decline in factory production. The 8.9% decline in auto output was the major reason for the flat headline. Excluding motor vehicle output, factory production rose 0.2% in April after a 0.3% gain in the prior month.
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