Industrial Production Takes Biggest Gain in Three Months
Industrial production rose in April by the most in three months, gaining 0.8%, the Federal Reserve said Friday.
The increase followed a revised 0.2% increase in March, which had originally been reported as a 0.1% rise. Factory output jumped 1% for a second month.
The increase was slightly higher than economists’ forecasts of a 0.7% increase, Bloomberg reported.
The share of industrial capacity in use rose to 73.7% from 73.1% in March.
Manufacturing accounts for about an eighth of the U.S. economy and the factory sector is one of trucking’s largest and most important customers.
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