Industrial Production Increased 1.0% in April, Largest Gain Since February 2014

Industrial production increased 1.0% in April after a revised 0.4% March increase. This was the third consecutive monthly increase and largest gain since February 2014. Over the last year, industrial production was up 2.2%.

Manufacturing output increased 1.0% in April after a 0.4% decline in March. As with the overall index, this increase was its largest since February 2014. Production of durable goods and nondurables both rose 1.0% during the month. Capacity utilization for manufacturing increased by 0.9 percentage point to 75.9%, a rate that is 2.5 percentage points below its long-run average.

The output of mining rose 1.2% in April after a 0.4% fall in March, largely because of pickups in coal mining and in drilling and support activities.

Utilities output climbed 0.7% in April, as warmer-than-normal temperatures boosted air-conditioning usage.

Read the Fed release.

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About Stephen Newton

Stephen Newton is an economic research associate at ABA.