US industrial output flat in April, down 0.4% over year

US industrial output flat in April, less than expected; down 0.4% over past 12 months; Westpac: manufacturing, 80% of total, down 0.3%; US Treasury yields rise; rate-cut expectations soften; capacity utilisation rate slips to 78.4%. The Federal Reserve’s industrial production (IP) index measures real output from manufacturing, mining, electricity and gas company facilities located in the United States. These sectors are thought to be sensitive to consumer demand and so...

read full story