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US industrial output posts biggest drop in more than 1


WASHINGTON: US industrial output fell at its fastest rate in more than 1-1/2 years in April as factory production slumped, tempering hopes for a big jump in economic growth after a winter slowdown. Production at the nation's mines, factories and utilities slipped 0.6 per cent last month, the largest decline since August 2012, after an upwardly revised 0.9 per cent gain in March, the Federal Reserve said on Thursday.


Economists had expected output to hold steady. Manufacturing production, which had risen solidly in February and March, dropped 0.4 per cent. With output slipping, US industry operated at only 78.6 per cent of its capacity, down from 79.3 per cent in March.


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