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16 May 2017
 |
| American industry (The Total Investment & Insurance Solutions) |
American industry expanded production last month at the fastest pace in
more than three years as manufacturers and mines recovered from a March
downturn. The Total Investment &
Insurance Solutions
The Federal Reserve said Tuesday that
industrial production at U.S. factories, mines and utilities shot up 1 percent
in April from March, biggest gain since February 2014 and the third straight
monthly gain. The increase was more than twice what economists had expected.
Factory production rose 1 percent after
declining 0.4 percent in March. Mine production increased 1.2 percent after
falling 0.4 percent in March. And utility output rose 0.7 percent after surging
8.2 percent in March. The Total
Investment & Insurance Solutions
Factory production has risen three of four
months this year. Manufacturing has recovered from a rough patch in late 2015
and early 2016 caused by cutbacks in the energy industry and a strong dollar,
which makes U.S. goods costlier in foreign markets.
The overall U.S. economy grew at a lackluster
0.7 percent annual pace from January through March. But economists expect
growth to pick up the rest of the year as consumers ramp up spending.
A healthy job market bolsters consumer
confidence. Employers last month added 211,000 jobs and unemployment fell to
4.4 percent, lowest in a decade.The
Total Investment & Insurance Solutions
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