Industrial Production Rises 0.7% in April | ABA Banking Journal

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Industrial production increased 0.7% in April. Total industrial production in April was 16.5% higher than its year-earlier level but remains 2.7% below pre-pandemic levels.

Manufacturing output increased 0.4% in April. Durable manufacturing decreased 0.4%, while nondurable manufacturing increased 1.3%. The output of utilities increased 2.6% after significantly dropping in March. Mining production increased 0.7% in April; the index fell more than 9.0% in February because of winter storms and recovered much of that loss in March.

Read the Fed release.