Industrial Production Falls 0.3%, Capacity Use at 78.2% in April

Industrial production dropped 0.3% in April, the Federal Reserve reported Friday.

The production decrease followed a revised 0.3% decrease in March, first reported as a 0.6% decline.

Capacity utilization slid in April to 78.3% from a revised 78.6% the previous month, first reported as 78.4%.

Economists polled by Thompson Reuters projected a 0.1% increase for industrial production and a 78.4% capacity utilization rate.

Manufacturing output was flat in April following a revised 0.3% increase in March, first reported as a 0.1% gain.

Utilities' output fell 1.3% in April after dropping a revised 5.4% in March, first reported as a 5.9% slide.