U.S. industrial production tumbled a 15th time in 16 months during April, cut down by massive business inventory liquidation.
Industrial production decreased by 0.5% in April compared to the prior month, the Federal Reserve said Friday. Output fell 1.7% in March, revised from a previously estimated 1.5% decline.
Capacity utilization shrank in April to 69.1%, a historical low since records began in 1967. March capacity use was a revised 69.4%; originally, "cap-U" was estimated at 69.3% in March. The 1972-2008 average was 80.9%.
Source: Federal Reserve