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Industrial production jumps
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May 14, 1999: 9:56 a.m. ET
April rise biggest since last August, led by strong manufacturing gains
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NEW YORK (CNNfn) - U.S. industrial production posted its strongest gain in eight months during April, led by a sharp rise in manufacturing output, the Federal reserve reported Friday.
Total manufacturing, mining and utility output rose by 0.6 percent during April. That marked a slight improvement from a sharply revised 0.5 percent gain in March and topped the 0.4 percent increase analysts' had expected.
The Fed said April's capacity utilization rose slightly to 80.6 percent from a revised 80.4 percent in March.
The report indicates that after six months of relatively flat growth, the manufacturing sector is suddenly starting to sizzle.
Overall, manufacturing output posted its strongest gain since last October, advancing 0.6 percent during April compared with a 0.4 percent gain in each of the previous two months.
Durable goods posted the strongest increase, rising 0.8 percent for the month, while non-durable goods climbed 0.3 percent. That compares with gains of 0.7 percent and 0.1 percent, respectively, during March.
Mining and utility output also were stronger. Mining production edged up 0.1 percent due to rebounds in coal and metal ores, reversing several months of decline. Utility production rose 0.7 percent, down from its 2.8 percent jump in March.
Production of consumer goods, which was relatively flat during March, advanced 0.6 percent during April, led by a 2.1 percent jump in durable goods, including automotive products, carpeting and furniture, and home electronics.
Business equipment increased 0.3 percent, down from a revised 0.7 percent gain during March, which the construction supply index rebounded from a flat February and March to post a 5.3 percent gain. 
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U.S. Federal Reserve
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