Industrial production increased more than forecast in March, led by a rebound in consumer goods manufacturing, a sign that factories will keep driving the U.S. economy.
Output rose 0.8 percent, the fifth straight gain, after a revised 0.1 percent rise in February, the Federal Reserve said today in Washington. Economists surveyed by Bloomberg News projected a 0.6 percent gain, according to the median estimate. Manufacturing, which makes up 75 percent of the total, climbed 0.7 percent following a 0.6 percent increase. Utility output and mining also rose.