Industrial production in the United States in April remained unchanged in April compared to the month prior, the Federal Reserve shared in its report posted on Thursday. The industrial output fell 0.4% year over year.

Manufacturing production edged down 0.3% month on month and 0.5% compared to April 2023. Mining lost 0.6% compared to March and saw an annual decline of 1.3%. On the other hand, the output of utilities saw a monthly increase of 2.8%, while growing 2.3% on an annual basis.

Capacity utilization decreased in April to 78.4%, which is “1.2 percentage points below its long-run average.”