WASHINGTON - Industrial production increased 0.8% in April, the largest monthly gain since January and the 10th straight monthly rise, the Federal Reserve Board reported today.
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Capacity utilization increased to 73.7% in April, the highest level since November 2008.
Economists had expected industrial production to increase 0.6% and for capacity utilization to increase to 73.7%, according to the median estimate from Thomson Reuters.
Production in March was revised higher to a 0.2% gain from the 0.1% rise initially reported.
Mining production increased 1.0% and utilities production decreased 1.3%.
Total industrial output in April was 5.2% above the year-earlier level.
