WASHINGTON — Industrial production was flat in April as capacity utilization edged lower to 76.9%, according to a Federal Reserve report that was issued Tuesday.
Manufacturing output dropped 0.4% following a 0.6% gain in March, revised lower from a 0.8% increase reported last month.
Utility output rose 1.7% for the month, the largest increase since December.
March’s industrial production was predicted to rise 0.4%, according to the median estimate from Thomson Reuters. Capacity utilization was predicted at 77.6%
Industrial production was revised down to a 0.7 rise March. Capacity utilization fell from the revised 77.0% in March.
Manufacturing production fell 0.4% after a revised 0.6% increase in March. Utility output rose 1.7% after March’s revised 0.7% increase.
Analysts had been looking in particular for a drop in manufacturing output because of supply-chain disruptions from Japan.