US industrial production for April 0.7% versus 0.3% estimate

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Industrial production prior month -0.5% revised to -0.3% Capacity utilization prior month 75.7 Manufacturing production last month -0.1% revised to +0.1%For April:Industrial production 0.7% versus 0.3% expected. Year on Year industrial production is up 1.4%Capacity utilization 76.1% versus 75.8% estimate. The index a year ago was at 76.1% as well.Manufacturing output 0.6% versus 0.2% estimate. Year on Year the manufacturing output is up 1.3%, led by utilities which are up 2.7% Not surprising, utilities are helping with demand for AI increasing.The major market groups for industrial production:Final ProductsMoM: +1.1% vs -0.6% last month. HigherYoY: +1.4%Consumer GoodsMoM: +0.9% versus -0.8% last month. HigherYoY: -0.2%Business EquipmentMoM: +1.5% versus -0.1% last month. HigherYoY: +6.0%Nonindustrial SuppliesMoM: +0.2% versus +0.5% last month. LowerYoY: +1.5%ConstructionMoM: 0.0% versus +0.9% last month. LowerYoY: +1.2%MaterialsMoM: +0.5% versus -0.4% last month. HigherYoY: +1.2%Capacity utilization for manufacturingCapacity utilization for manufacturing moved up 0.4 percentage point to 75.8 percent in April and is now2.4 percentage points below its long-run (1972–2025) average. The operating rate for mining edged down0.1 percentage point to 84.6 percent, and the operating rate for utilities increased 1.1 percentage points to71.1 percent. The utilization rates for mining and for utilities were 0.6 percentage point and 12.9 percentagepoints below their long-run averages, respectively. This article was written by Greg Michalowski at investinglive.com.