The Federal Reserve reported last week that the nation’s industrial and manufacturing output continued its increase in April, a sign that economic conditions continue to improve throughout the U.S.
Industrial production rose 0.8 percent in April, an improvement over the 0.2 percent it increased in March. Manufacturing rose 1 percent last month, mirroring its 1 percent increase in March. U.S. manufacturing output is now 6 percent above its April, 2009 levels, the Federal Reserve report says
U.S. capacity utilization was about 70.8 percent during April – which is more than 8 points below the country’s average from 1972 to 2009. However, the average is now 5.7 percentage points above the country’s trough levels of June 2009.
Durable goods gained 1.1 percentage points in April, and segments such as nonmetallic mineral products, primary metals, machinery and electrical equipment all gained 2 percent or more.
Nondurable goods gained one percent last month. Petroleum and coal products increased 3.6 percent, plastics and rubber products expanded by 2.7 percent, and paper production gained 2.4 percent.
To see the full report from the Federal Reserve, visit: http://www.federalreserve.gov/releases/g17/current/default.htm
