U.S. manufacturing output rose in April by slightly more than expected, suggesting further improvement for factories that are otherwise buffeted by supply shortages and shipping challenges.
Factory output increased by 0.4% in April, after an upwardly revised 3.1% jump in March, Federal Reserve data showed May 14. Total industrial production, which also includes mining and utility output, rose 0.7% in April after a revised 2.4% increase a month earlier.
The median estimate in a Bloomberg survey of economists called for a 0.3% monthly increase in factory production and a 0.9% gain in industrial production.
