Associated Press (05/15/14) Paul Wiseman

Industrial production declined 0.4% in April after increasing 0.7% in March, according to the U.S. Federal Reserve. Economists expect the decrease to be temporary because other recent measures of manufacturing have been positive. The Institute for Supply Management’s manufacturing index increased to 54.9 last month from 53.7 in March. Overall industrial output—which includes manufacturing, mining, and utilities—declined 0.6% last month, the Fed said.

Dow Jones Business News (05/15/14) Kathleen Madigan

Manufacturers in the mid-Atlantic region are continuing to recover from harsh winter weather, according to the U.S. Federal Reserve Bank of Philadelphia. The Philadelphia Fed’s business index fell from 16.6 in April to 15.4 in May. Economists polled by the Wall Street Journal had forecast a decline to 13.8. Readings above zero indicate expansion.

Meanwhile, the employees index rose from 6.9 in April to 7.8 in May, and the workweek index fell from 5.0 to 2.9.

Fox Business (05/14/14) Dunstan Prial

Growth of the U.S. economy going forward is expected to come from improved consumer confidence as a result of a strengthening housing market and rising equity markets instead of low interest rates and government spending, according to a Fitch Ratings report. Interest rates have been near zero since late 2008, sparking fears of future inflation. Fitch expects the U.S. Federal Reserve to increase interest rates gradually as unemployment declines, likely beginning in mid-2015.