Industrial Production in U.S. Falls by Most in Eight Months

[marmar]

(Bloomberg) Industrial production declined in April by the most in eight months, reflecting broad-based cutbacks in U.S. manufacturing (IPMGCHNG) that show factories will provide little support for the economy.

Output at factories, mines and utilities fell a more-than-forecast 0.5 percent after a revised 0.3 percent gain in the prior month that was weaker than previously reported, a report from the Federal Reserve showed today in Washington. The median forecast in a Bloomberg survey called for a 0.2 percent decline. Manufacturing, which makes up 75 percent of total production, unexpectedly fell 0.4 percent, the third drop in four months.

Business investment is cooling at the same time the economy is projected to slow this quarter as across-the-board federal budget cuts take hold. Faster gains in employment and a pickup in overseas markets are needed to drive demand, which would help to spur orders and inventory building and keep assembly lines running at American factories. ............(more)

The complete piece is at: http://www.bloomberg.com/news/2013-05-15/industrial-production-in-u-s-declines-by-most-in-eight-months.html

[xchrom]

1. du rec. nt

[SoCalDem]

2. Duh !

When many people spend every cent they have on food/housing & gasoline to get to a job (if they are lucky enough to have one), there is no money left to buy extra stuff ..