Industrial Production Was Flat in April

Industrial production in the U.S. stayed the same from March to April, the Federal Reserve reported today (MarketWatch, subscription).

What’s going on: “The flat reading was below expectations of a 0.1% gain, according to a survey by The Wall Street Journal. Output in March was revised down to a 0.1% gain from the prior estimate of a 0.4% rise.”

The revision was offset by an upwardly revised 0.8% increase for February data.

The details: Utilities output rose 2.8%, while mining output declined 0.6% and manufacturing output fell 0.3% (Business Insider).

Capacity utilization: Capacity utilization—a measure of potential output—inched down in April to 78.4% from 78.5% in March.