US Industrial Production Rises by Most in Over a Year (3)

US industrial production rose in April by the most in over a year, pointing to nascent momentum in the sector.

The 0.7% increase in output at factories, mines and utilities followed a revised 0.3% drop in March, Federal Reserve data out Friday showed. That topped all estimates in a Bloomberg survey of economists.

Manufacturing output, which accounts for about three-fourths of total industrial production, climbed 0.6%. Mining output, which includes energy extraction, edged lower, while utilities output rebounded.

The report adds to evidence that the manufacturing sector is holding up even as the Iran war ...