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Tuesday, May 17, 2016

Industrial production rises more than forecast (USD)

[alcoa aluminum worker inspect]AP/Daniel R. Patmore Industrial production jumped 0.7% in April, more than expected. This is only the second positive reading since last September. The Federal Reserve's data out Tuesday also showed that capacity utilization was 75.4%.  Economists had forecast that industrial production rose 0.3% month-on-month following a 0.6% drop according to Bloomberg.  Demand for electricity and natural gas climbed to a more normal level after unseasonably warm weather in March reduced the need for heating.  Manufacturing production rose 0.3%, while mining declined yet again, by 2.3%.  Capacity utilization was estimated at 75%.    Refresh this page for the latest. NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy


READ THE ORIGINAL POST AT www.businessinsider.com