Industrial production stable in April

Industrial production was little changed in April, according to the Federal Reserve..Manufacturing output excluding motor vehicles and parts fell 0.3 percent, and was a half-percent lower than a year ago. The index for durable manufacturing fell a half-percent in April, while the index for nondurable manufacturing slipped 0.1 percent. .The index for durable consumer goods fell 1.5 percent amid a 1.8 percent drop in the output of automotive products. The index for construction supplies fell 1 percent, and the index for business equipment dropped a half-percent..The index for nondurable consumer goods increased a half-percent in April, as a nearly 1 percent rise in the non-energy component outweighed a 0.2 percent drop in the energy component. The output of defense and space equipment increased 0.8 percent, and the output of business supplies rose 0.2 percent. ."Most industry groups within durable manufacturing posted declines in April," according to the Federal Reserve. The largest declines were in the indexes for motor vehicles and parts, for electrical equipment, appliances and components, and for wood products." .The mining index fell 0.6 percent amid an 18.1 percent decline in the index for coal mining, and the output for utilities increased 2.8 percent. At 102.8 percent of its 2017 average, total industrial production was 0.4 percentage points lower than its year-earlier mark. Industrial capacity utilization moved down to 78.4 percent in April, which is 1.2 percentage points below its long-term average. .Capacity utilization for manufacturing fell 0.3 percentage points in April to 76.9 percent, which is 1.3 percentage points below its long-term average. The mining operating rate fell 0.6 percentage points to 92.1 percent, while the operating rate for utilities fell 1.8 percentage points to 71 percent.