The Federal Reserve reported on Thursday that U.S. industrial production remained unchanged in April, with a rise in utilities output balancing out declines in both mining and manufacturing sectors.
According to the report, industrial production held steady in April following a downwardly revised increase of 0.1 percent in March. Initial estimates for March had indicated a 0.4 percent increase. Economists had predicted a modest 0.1 percent rise for April.
Breaking down the data, utilities output experienced a significant increase of 2.8 percent. In contrast, mining output decreased by 0.6 percent, and manufacturing output saw a decline of 0.3 percent.