Industrial production declines in April but at a slower pace

05/18/2009 | Bloomberg

Industrial production fell at a slower pace in April, indicating that the economic recession is easing, an economist said. It declined 0.5% in April, after falling 1.7% in March. Meanwhile, an index of consumer sentiment climbed to 67.9 from 65.1, and the Fed Bank of New York's general economic index climbed to minus 4.6, exceeding economists' expectations. "Things are stabilizing," said Jeffry Feigenwinter of BNP Paribas Securities. "We are no longer falling off a cliff."

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