US industrial production dips 0.6 percent in April

(MENAFN) The US Federal Reserve said that the country's industrial production failed to meet expectations of a strong rebound in April due to the slow growth in February and March, Xinhua reported. According to a Fed report, industrial production decreased by a seasonally adjusted 0.6 percent in April, following a revised increases of 1.1 percent and 0.9 percent in February and March, respectively. Manufacturing output, the largest component of the overall industrial production, dipped 0.4 percent, while mining increased 1.4 percent and utilities declined 5.3 percent.