Strong dollar, cheap oil put brake on factory output in April
Total industrial production down for fifth consecutive month
Washington
FACTORY production stalled in April, as American manufacturers were dealt blows by a strong dollar and cheap oil.
The unchanged reading in manufacturing followed a 0.3 per cent March gain that was larger than previously estimated, a Federal Reserve report showed on Friday in Washington. The median forecast in a Bloomberg survey of 21 economists called for a 0.2 per cent increase. Total industrial production declined for a fifth consecutive month amid mining and utilities cutbacks.
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