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NewsAuto sector supports industrial production growth in America in April

Auto sector supports industrial production growth in America in April

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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
The Eastern Herald’s Arab Desk validates the stories published under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

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