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U.S. Industrial Production Rises in April

- U.S. industrial production rose in April, according to data released on Wednesday.

The Federal Reserve reported that industrial output advanced 0.7% last month after gaining 0.5% in March.

Economists had forecast industrial production rising 0.5%.

Meanwhile, manufacturing production increased 0.5% in April, compared to the 0.1% increase in the previous month.

The reading was in line with consensus.

The report also showed that the capacity utilization rate, a measure of how fully firms are using their resources, increased to 78% in April.

Economists had forecast it to rise to 78.4%.

March’s reading was revised down to 77.6% from the initial 78.0%.

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