Economics
US Factory Production Advances at Solid Pace for a Third Month
- Fed data showed 0.8% gain in April, twice that of expectations
- Manufacturing capacity utilization rate is highest in 15 years
The rise in April manufacturing output was broad, including gains in production of metals, machinery, motor vehicles and food, the Fed’s report showed.
Photographer: Jeff Kowalsky/BloombergThis article is for subscribers only.
US factory production rose at a solid pace for a third month in April, showing manufacturers are making strides meeting steady consumer demand and investment growth.
The 0.8% increase followed a similar gain in March, Federal Reserve data showed Tuesday. Total industrial production, which also includes mining and utility output, climbed 1.1% during April.