US industrial production was unchanged in April and on an annual basis was up 1.5% YoY.

• Manufacturing production fell -0.4% MoM, below expectations of a -0.2% MoM drop, and was offset by an increase in utilities production of 3.3% MoM.
• Within final product output, consumer goods production fell -0.2% MoM, and business equipment production edged up 0.2% MoM.
• Durable goods production fell -0.2% MoM, with motor vehicle & parts production down -1.9% MoM, and non-durable goods production fell -0.6% MoM.
• Capacity utilization fell -0.1 ppts to 77.1% with manufacturing utilization falling -0.4 ppts to 77.3%.