Friday, May 15, 2009
The Federal Reserve says the nation's industrial production fell in April by the smallest amount in six months, evidence that the pace of the economy's decline is slowing.
The Fed says output by the nation's factories, mines and utilities fell 0.5% last month, after revised declines of 1.7% in March and 1% in February. Analysts expected a drop of 0.6% last month.
Still, the report shows U.S. industry remains weak. Industrial production has fallen in 15 of the 17 months since the recession began in December 2007, and is down 16% since then.