Factory Output in U.S. Increases for First Time in Three Months
- Manufacturing climbs on production of autos, business supplies
- Total industrial output jumps, boosted by electricity demand
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U.S. manufacturing production rose in April for the first time in three months, indicating a respite for the industry after a one-year slump, a Federal Reserve report showed Tuesday.
The worst of America’s manufacturing slump is probably over, although the industry may do little to add to economic growth. A decline in the dollar this year will help provide some relief going forward for export-oriented factories. Remaining hurdles includes still-soft overseas markets and U.S. businesses’ efforts to bring inventories more in line with a recent weakening in sales.