Industrial Production Rose In April
May 16, 2012 by UPI - United Press International, Inc.
WASHINGTON (UPI) — Industrial production rose 1.1 percent in April after two months of holding unchanged, the U.S. Federal Reserve said Wednesday.
In April, manufacturing output increased 0.6 percent after falling 0.5 percent in March.
Manufacturing gains were pushed by a 4 percent gain in automobile production. Excluding vehicles, manufacturing production rose 0.3 percent in the month.
Production at mines rose 1.6 percent in April while output at utilities rose 4.5 percent after an unseasonably warm first quarter, which held down demand for heating.
Industrial production came to 97.4 percent of its 2007 average in April. Production was 5.2 percent higher than April 2011.
Capacity utilization — measuring production as a percentage of manufacturing, mining and utilities operating at full steam — rose to 79.2 percent, a 3.1 percent rise from April 2011, but 1.1 percent below its 1972-2011 average.