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U.S. Industrial Production Rises Most in More Than Three Years

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American factories flexed some muscle in April, boosting output by the most since February 2014 in broad fashion. Along with gains at mines and utilities, total industrial output was also the strongest in more than three years, Federal Reserve data showed Tuesday.

The jump in U.S. manufacturing was broad-based and included the largest surge motor vehicles and parts production since July 2015, according to the Fed. Output also picked up for consumer goods and business equipment, two sources of strength for the economy. With brighter global growth prospects, signs that businesses are more open to investment, and a firm labor market that’s underpinning consumer demand, output may stay strong in coming months.