U.S. factory production regained its footing in April to push capacity utilization to the highest since 2015, indicating the industry will support economic growth this quarter, Federal Reserve data showed Wednesday.
Highlights of Industrial Production (April)
- Factory output rose 0.5% month over month (matching estimate) after being unchanged in March (revised from up 0.1%).
- Total industrial production, which also includes mining and utilities, increased 0.7% month over month (est. 0.6% rise) after an upwardly revised 0.7% gain; Jan., Feb. figures revised down.