Industrial production up 0.7% in April
Industrial production grew 0.7% in April, the Federal Reserve reported Wednesday.
The increase followed a revised 0.7% increase in March, first reported as a 0.5% gain.
Capacity utilization rose to 78.0% in April from March’s revised 77.6%.
Economists polled by IFR Markets projected a 0.6% increase for industrial production and a 78.4% capacity utilization rate.
Manufacturing output was up 0.5% in April, following a revised reading of unchanged for March.
Utilities’ output gained 1.9% after increasing 6.1% in March, while mining was 1.1% higher after a 0.8% increase the month before.