16 May 2012, 18:47  USA: April, Industrial production +1.1%

With utilities output showing a substantial increase in the month of April, the Federal Reserve released a report Wednesday morning showing a much bigger than expected increase in overall industrial production for the month. The Fed said industrial production increased by 1.1 percent in April, far exceeding economist estimates for an increase of about 0.5 percent. At the same time, the report said production fell by 0.6 percent in March after rising by 0.4 percent in February. Production was previously estimated to have been unchanged in both months. Capacity utilization rose to 79.2 percent in April from a revised 78.4 percent in March. Economists had expected capacity utilization to edge up to 79.0 percent from the 78.6 percent originally reported for the previous month.

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