Industrial production in the nation was down 0.7% in April while capacity utilization fell to 79.7, according to data released by the Federal Reserve Board yesterday.

The drop in production level followed a 0.2% increase the previous month, while March capacity use was 80.4. March production had been initially reported as a 0.3% gain, while capacity use was first reported as 80.5.

IFR Markets had forecast a 0.3% decrease in production, and an 80.1% level for capacity utilization.

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