Industrial Production Declines 0.5%

Industrial production fell 0.5% in April, the smallest decrease in six months, the Federal Reserve said Friday.

The increase was less than economists’ forecasts of a 0.6% drop, Bloomberg reported.

The decline in production at factories, mines and utilities followed a revised 1.7% downturn in March.

The share of industrial capacity in use fell to 69.1%, the lowest reading since such records began being kept in 1967.

The factory sector is one of trucking’s largest and most important customers.