Volume of industrial production in the US rose by 0.7% in April

The volume of industrial production in the US rose in April by 0.7%, as well as in March, the Federal Reserve Bank said, noting that these data indicate the acceleration of the growth of the US economy in the second quarter. Production of equipment increased by 2.3%, overlapping the decline in the production of basic metals and metal products. Production last month increased by 1.1%, mainly due to the rise in oil and gas production by 3%. The utilization of production capacity increased by 0.4% and reached the highest level since March 2015 in 78%. However, disappointing in April were data on the volume of construction of houses, which declined due to high costs of wood and difficulties with employment.

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