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NewsAuto sector supports industrial production growth in America in April

Auto sector supports industrial production growth in America in April

And the US Federal Reserve said on Tuesday that manufacturing output rose 1% last month.

Data for March has been revised to show industrial production falling 0.8% instead of 0.5% as previously reported.

Economists polled by Reuters had expected factory output to rise 0.1%.

Production fell 0.9% year-on-year in April.

Auto production jumped 9.3% last month, after falling 1.9% in March.

Excluding the automotive sector, industrial production rose 0.4% after falling 0.7% in March.

By contrast, U.S. retail sales rose less than expected in April, but the underlying trend was strong, indicating that consumer spending got off to a strong start in the second quarter, defying expectations of a recession this year. .

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Arab Desk
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