The output of the nation's factories, mines and utilities fell 0.5% in April, the Federal Reserve said Friday. Output has fallen in six straight months and 15 out of the last 16 months. The output of most major market groups fell in April. The April decline was just a bit better than expected by economists surveyed by MarketWatch. Analysts had been expecting a 0.6% drop. Output in March was also slightly weaker than previously estimated. Output fell a revised 1.7% in March, compared with the initial estimate of a 1.5% drop. Capacity utilization - a gauge of slack in the economy -- fell to a record low 69.1%.
