U.S. industrial output stagnated in April, constrained by a decline in manufacturing output, which lacked momentum for manufacturing growth.
Federal Reserve announced ThursdaycandycrushsodapopData showed that the growth rate in March was revised downward to 0candycrushsodapopAfter.1%, U.S. industrial output was flat month-on-month in April.
Manufacturing output fell 0.3% in April. Affected by automobile output, March data was revised down to growth of 0.2%. The output value of manufacturing excluding automobiles fell by only 0.1%. The decline in mining was mainly affected by the decline in coal mining, while the growth rate of public utilities accelerated.
With rising input prices and unstable demand, it is difficult for the manufacturing industry, which accounts for three-quarters of the total industrial output value, to accumulate growth momentum. The Institute for Supply Management's (ISM) latest indicator of manufacturing activity fell back into contraction territory in April after expanding for the first time in March since 2022.