US DATA: April Ind Production flat, putting Capacity Util at 76.9%,
below expectations. Mar now +0.7%, but Feb rev to -0.3%. Apr mfg -0.4%
after 9 mos of gain; Fed says “total motor vehicle assemblies dropped
from an annual rate of 9.0m units in Mar to 7.9m, mainly because of
parts shortages that resulted from the earthquake in Japan.” Ex autos
factory production rose 0.2% in April. Mining +0.8% and utilities +1.7%.
In mfg, output of appliances, furniture, and carpeting fell in addition
to autos, and index for business equipment fell 0.4% after -0.5% Mar.
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