Industrial production grew 1.0% in April, the Federal Reserve reported Tuesday.

The increase followed a revised 0.4% gain in March, first reported as a 0.5% increase.

Capacity utilization grew to 76.7% in April from 76.1% the previous month.

Economists polled by Thomson Reuters projected a 0.3% increase for industrial production and a 76.3% capacity utilization rate.

Manufacturing output was up 1.0% in April, following a 0.4% drop in March.

Utilities’ output rose 0.7% after increasing 8.2% in March, while mining was up 1.2% after a 0.4% decline the month before.

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Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.