April marks second straight month of manufacturing decline

05/15/2013 | IndustryWeek

The Federal Reserve reported Wednesday that U.S. manufacturing experienced another slow month in April. According to the Fed, industrial sector production declined 0.5% for the month. Manufacturing was down for the second straight month, registering a decline of 0.4%, following a revised drop of 0.3% in March. "Suppliers of numerous manufacturing supply chains such as machinery, nonmetallic mineral products, and fabricated metal products all suffered contractions in production, indicating fundamental factory sector weakness," observed Cliff Waldman, senior economist at MAPI.

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