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PNC BANK CORP. CHIEF ECONOMIST: FACTORY OUTPUT EDGES UP IN APRIL, REBOUNDING FROM DEPRESSING EFFECT OF MARCH BLIZZARD

 PITTSBURGH, May 14 /PRNewswire/ -- The Federal Reserve Board today released the April figures for industrial production and capacity utilization.
 According to Stuart Hoffman, PNC Bank Corp.'s (NYSE: PNC) chief economist:
 -- After being depressed in March due to harsh weather, factory output rebounded slightly in April. The manufacturing sector is continuing to work its employees overtime hours, rather than hire new workers.
 -- Auto assemblies edged down last month, but better sales of cars and light trucks will lead to gains in this key industry.
 -- Industrial capacity usage is just over 81 percent -- its highest point in three years. This is still far away from the inflationary trigger-point of 84-85 percent.
 /delval/
 -0- 5/14/93
 /EDITORS: For more information, or to schedule an interview with Hoffman, please call contact./
 /CONTACT: Cindy Jergan OF Ketchum Public Relations, 412-456-3584/
 (PNC)


CO: PNC Bank Corp. ST: Pennsylvania IN: FIN SU: ECO

DM -- PG011 -- 8581 05/14/93 11:10 EDT
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Publication:PR Newswire
Date:May 14, 1993
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